Valparaiso led 43-37 at the break and the Crusaders opened the second half with an 18-6 run, capped by Peters' six-straight points, to take a 61-44 lead with 14:00 to play. The Crusaders led by double digits the rest of the way.
David Skara added 10 points for Valparaiso (6-1).
Cameron Payne and T.J. Sapp hit back-to-back 3-pointers to pull Murray State within 39-37 with 1:28 remaining in the first half. Peters answered with four points to end the period.
Jeffery Moss scored 13 points and Payne added 12 to lead Murray State (2-4).