Legendary trader Peter Brandt (피터 브랜트) suggested XRP could rise as high as $5.40 on a long-term chart.

On Sept. 22 (local time), blockchain media outlet Cryptopolitan reported that he said the XRP chart ultimately implies a move to $5.40. He added that the outlook is not a buy recommendation and that proof is needed before any trading recommendation.

The chart reflects several years of moves based on XRP/USDT monthly candles. It is built on a structure in which a downward resistance line from the 2018 high intersects with an upward support line formed at the 2020 low. XRP recently broke above that ceiling and rose past $3, but then entered a long correction. The current price is around $1.57, below the 18-month moving average of $1.88. The $5.40 target assumes XRP recovers a large part of the price area it lost during the correction.

XRP also showed short-term strength. On Sept. 21 it at one point rose 8.7 percent over 24 hours to $1.54, trading between $1.41 and $1.57 during the session. To reach $5.40, XRP would need to rise about 251 percent from $1.54, or about 260 percent from $1.50.

A custody service using Ripple technology also emerged alongside the price upturn. South African financial institution Absa launched “Absa Digital Asset Custody” on Sept. 21 based on Ripple’s custody technology. It came 11 months after Ripple and Absa announced their cooperation.

Institutional views are more mixed. Asset manager 21Shares cited regulatory clarity, institutional accessibility, measurable utility and a fixed supply structure as grounds for an XRP bull case. It estimated tokenised assets at about $4 billion and RLUSD supply at about $1.6 billion, and said more than half of RLUSD supply is circulating on the XRP Ledger. But 21Shares warned that increased XRPL activity does not automatically translate into sustained demand for XRP.

Regulatory variables also remain. The U.S. Senate failed to advance the Clarity Act, and a cloture vote was rejected 49 to 50. Ripple said that despite the failed vote, XRP’s legal status has not changed and there is no impact on payments, stablecoins or institutional demand.

The derivatives market reflects high short-term volatility in XRP. XRP options priced in an expected one standard deviation move of about 8.9 percent through Sept. 27. It was the largest among major tokens. On the same basis, Solana was 8.0 percent, Ethereum 6.9 percent and bitcoin 5.0 percent. XRP’s expected volatility was tallied at about 1.79 times the median volatility over the past seven days.

There is a gap between the long-term target suggested by Brandt’s chart and actual trading decisions. Brandt’s use of the word “eventual” also means he did not specify timing. As a result, the XRP market appears to be entering a phase in which long-term expectations and short-term volatility are both rising.

This is my long-term chart of ripple:native It implies an eventual advance to $5.40 A claim of a "call" or simple presentation of a chart is NOT a trade People who claim "trades" need to provide proof or else the claims are BS An X post is NOT proof pic.twitter.com/Szu6FiZq2T