Peter quotes from Deuteronomy 18:15, Deuteronomy 18:18, Deuteronomy 18:19, and Leviticus 23:29. His quotation is meant to underline the necessity of repentance and turning to God (in this case, recognizing and submitting to Jesus as the Christ). In Jewish circles, the prophet like Moses was understood to refer to an ideal prophet who would be sent by God in the future. A prophet who would receive direct revelation from God just as Moses had done. God’s people were expected to look out for this prophet and submit to him. Submission to this prophet would serve as the criterion by which the Lord determines who is part of his people and who is not. Peter is thus making the claim that Jews who refuse to recognize Jesus as the Christ are not part of God’s people.1
22 Moses said, ‘The Lord God will raise up for you a prophet like me from your brothers. You shall listen to him in whatever he tells you.