Analyst Says XRP Is Preparing for a 14% Price Rally. Here’s the Chart

Ali Martinez (@ali_charts), a well-known cryptocurrency analyst, recently indicated a potential breakout of XRP price on a chart.

In a post on X, he shared the chart illustrating a symmetrical triangle formation on XRP’s one-hour chart, indicating that the digital asset is preparing for a significant 14% rally.

Technical Analysis of XRP’s Chart

Martinez’s chart shows XRP trading within a narrowing price range, forming a symmetrical triangle pattern. This structure is characterized by lower highs and higher lows, suggesting that volatility is compressing before a decisive price movement. The analyst implies that a breakout could be imminent as the price nears the apex of the triangle.

At the time of his analysis, XRP was trading at $2.5863. The symmetrical triangle pattern suggests that the price could move sharply in either direction, with an expected 14% change once a breakout occurs. Given the historical performance of similar formations, Martinez expects a bullish breakout for the asset.

How High Will XRP Go?

A 14% increase from $2.5863 would send the digital asset to $2.9484, just below the crucial $3 threshold. Martinez has previously highlighted bullish setups for XRP, including the recent identification of a cup and handle pattern targeting $3.

His recent observations align with his broader analysis, which suggests that XRP remains in a strong technical position if key support levels hold. Martinez has also previously predicted that XRP could hit $3 if it stays above $2.3.

The digital asset has remained above this level for an extended period, reinforcing the bullish sentiment among investors for a rally toward the $3 level. The symmetrical triangle’s resolution will likely kickstart the expected price surge.

Market Sentiment and Next Steps

The cryptocurrency market remains highly reactive to technical patterns, and XRP’s movement within the symmetrical triangle has caught traders’ attention. If a breakout occurs with strong volume, it could confirm the direction of the next major price move.

XRP has also seen an increase in whale activity, which shows that these large investors are confident in the asset’s immediate future. Given XRP’s recent price history and the confidence expressed by multiple analysts, the asset may experience a notable surge soon, with Martinez’s 14% rally as the start of a much larger climb.

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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