Analyst Says XRP Could Retest $3 Soon If It Holds This Key Support

XRP has demonstrated a strong recovery after holding the critical $2.30 support level. A threshold by crypto analyst Ali Martinez is crucial for maintaining upward momentum. After maintaining this level, the digital asset rebounded sharply, gaining approximately 13.65% over the past 24 hours and trading at $2.8.

This move aligns with Martinez’s earlier analysis, where he suggested that if XRP remained above $2.30, it could rally toward $3—a level it previously lost in early February when the broader market experienced a decline. The latest price action indicates that the asset follows this trajectory, reinforcing the bullish outlook.

XRP’s Ascending Channel

The latest chart shared by Martinez shows XRP trading within a well-defined ascending channel. After testing the lower boundary of this formation, the asset has started to climb back toward the midline, signaling renewed buying pressure. The resistance levels within this channel suggest that $3 remains a realistic short-term target if momentum continues.

The market reaction to this setup further supports the bullish case. XRP’s ability to hold above its key support and rebound with significant strength indicates growing investor confidence.

If the price breaks through the midline resistance, the next focus will be the channel’s upper boundary, which could indicate further gains beyond $3. Notably, another prominent analyst recently stated that the decline is XRP’s final backtest of any level below $3. If Martinez’s prediction comes true, the asset might not fall again.

Anticipation For A Bigger Surge

XRP’s recent surge comes amid broader optimism in the cryptocurrency market. With Bitcoin and other major digital assets also showing strength, the overall market environment appears favorable for continued gains.

Additionally, XRP’s price action suggests that traders closely monitor technical levels and react accordingly. Bulls recently flooded the market anticipating a price surge, and the digital asset did not disappoint.

XRP remains on an upward trajectory, with analysts like Martinez closely monitoring its progress. In January, XRP hit a multi-year high of $3.39, and many experts have set much higher targets for the asset’s immediate future. One prominent analyst set a target of $15 by March 10, and crossing the $3 mark could aid the digital asset’s journey to this target.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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