XRP Rebounds Above $1 as Peter Brandt Backs Bitcoin

XRP briefly slips under $1 then recovers amid Brandt remarks

XRP staged a quick rebound above the psychological $1 mark on Aug. 16 after an intraday drop that briefly pushed the token under that level. The volatility came as veteran trader Peter Brandt renewed his public skepticism toward XRP, saying he would prefer Bitcoin even if handed a large XRP holding. Market participants watched price action, on-chain flows and technical structure to assess whether the move signaled a transient dip or the start of a deeper selloff.

Market snapshot and price context

During Sunday trading, CoinGecko recorded XRP near 0.9993 at the low point, while later market feeds showed a recovery to roughly 1.059. Bitcoin traded near 62,926, meaning a hypothetical holding of 500,000 XRP at 1.059 would be worth about 529,500, equivalent to roughly 8.4 BTC at current rates. That hypothetical conversion was used by Brandt to illustrate his asset preference, not as a statement of an actual trade.

XRP remains far below its record high. CoinGecko lists the all-time peak at 3.65, reached on July 17, 2025, placing the recent weakness at roughly a 71% decline from that top. Traders say it is important to separate short-term noise from meaningful breaks of technical support, especially around round numbers such as $1.

XRP price chart

Peter Brandt reiterates preference for Bitcoin

Peter Brandt, a long-tenured technical trader, posted on X that he has little interest in holding XRP and would convert a large XRP position into Bitcoin. His comments echo a longer-running skepticism of the token's price outlook and the convictions of some XRP bulls. Brandt has previously highlighted a classic head and shoulders pattern he identified in March 2025, warning that a failure of key support could lead to prices near the $1.07 area he flagged.

Brandt also emphasized that his remarks reflect personal asset allocation preferences and his trading style, which often favors futures instruments. He has not provided a new XRP price target as part of his recent post, nor has he disclosed any transaction tied to the comment. The trader has on prior occasions also discussed potential downside scenarios for Bitcoin, stressing that commentary about preference does not equate to an immediate directional trade.

On-chain signals: whale inflows to Binance drop sharply

On-chain analytics show a meaningful decline in one potential source of selling pressure. Data contributors reported the three-month average of XRP whale inflows to Binance fell to about 61 million, the lowest level since 2021. That average contrasts with much larger deposits earlier in 2025, including roughly 456 million in January and 355 million in October of the same year.

Lower exchange deposits from large holders can point to reduced immediate sell-side supply, since fewer coins are being routed to centralized exchanges where they can be converted to fiat or traded. However, analysts caution that declining inflows do not guarantee higher prices because demand can diminish at the same time, or concentrated holders can still sell through other channels.

Why the inflows metric matters

Whale flow metrics are used by traders and analysts to gauge potential exchange liquidity events. A sudden spike in large deposits to major exchanges like Binance often precedes elevated selling pressure and price declines. Conversely, prolonged reductions in inflows may ease short-term liquidation risk. Market watchers combine these signals with order book depth, futures funding rates, and overall macro liquidity to form a view on near-term price resilience.

Technical picture and what traders are watching next

The immediate technical question for XRP is whether it can reestablish firm support above $1 and build momentum from there. A fleeting intraday breach of a round number does not necessarily indicate a sustained breakdown. Traders typically want to see follow-through in volume, a clear change in market structure, and confirmation across timeframes before treating a move as durable.

XRP previously revisited the $1.07 area highlighted in Brandt's 2025 technical analysis. While the token approached that level at times, reaching a technical target weeks or months after a charting call does not prove causation. Market dynamics, liquidity conditions, regulatory headlines, and macro factors have evolved significantly since 2025, and each can alter price behavior.

Key levels and indicators to watch

• Immediate support: the $1 handle and the $1.07 area flagged in earlier analysis
• Resistance: recent intraday highs near $1.06 and the broader range between $1.20 and $1.50
• On-chain flows: whale inflows to exchanges, particularly Binance, for signs of renewed deposit activity
• Futures positioning: funding rates and open interest to identify leverage concentration

Takeaway for investors and traders

For now, verified developments are clear but distinct: XRP briefly slipped below $1 before recovering, large whale deposits to Binance have declined to multi-year lows, and Peter Brandt publicly reiterated a preference for Bitcoin over XRP. None of these items alone dictates the next price move, but together they form a picture traders will monitor. Short-term traders should watch price structure and volume for confirmation, while longer-term investors should consider broader fundamentals, regulatory developments, and market liquidity when sizing exposure.

As always in crypto markets, a combination of technical signals, on-chain data and macro context offers the best framework for risk management and position decisions.