Expert Reaffirms XRP $15 Target in Current Cycle

A prominent market analyst has reaffirmed that XRP could still achieve a two-digit price level this cycle. Despite its recent downturn, the analyst cites a long-term symmetrical triangle pattern as a strong indicator of potential upward movement.

XRP has faced significant resistance in recent months, experiencing a sharp decline of nearly 29% from its $3.40 high in mid-January. The asset attempted a recovery earlier in March but suffered an 18.83% drop in a single day on March 3, marking its steepest intraday loss since the May 2022 Terra collapse. However, despite the current correction, analysts remain optimistic about the token’s long-term trajectory.

XRP’s Seven-Year Symmetrical Triangle

Market expert Ali Martinez recently revisited XRP’s multi-year symmetrical triangle, which began forming in January 2018 when the cryptocurrency retraced from its all-time high of $3.80. This pattern consists of descending resistance from lower highs and ascending support from higher lows, creating a converging triangle structure.

Before XRP’s latest surge, analysts had already identified this pattern, suggesting that a breakout could trigger a major rally. In November 2024, XRP surged by an impressive 283% following the U.S. presidential election results. This breakout marked the asset’s most significant monthly gain in seven years and signaled a potential shift toward a long-term bullish trend.

Retesting the Breakout Before the Next Move

Following its breakout, XRP continued its upward momentum for two months before experiencing a correction amid the broader market downturn. According to Martinez, this pullback is a natural retest of the breakout level. Historical patterns suggest that such retests are common and often confirm the strength of a breakout before another major price move.

Data indicates that as long as the token holds above $1, the breakout remains intact, even if the price temporarily falls below $2. Based on this analysis, Martinez maintains his previous projection that XRP could still reach $15 in this cycle.

The $15 target is derived by measuring the height of the widest section of the symmetrical triangle and adding that distance to the breakout point. With the token currently trading at $2.43, achieving $15 would require a 517% increase from its current level.

Short-Term Resistance and Future Outlook

While the long-term outlook remains bullish, the token faces immediate resistance in the short term. Analyst CW recently identified a strong sell wall between $2.50 and $2.62, which could slow further upward movement. However, if XRP manages to break through this barrier, it could accelerate toward the $2.80 range, setting the stage for further gains.

Despite market volatility, historical patterns, and technical indicators suggest that the asset still has the potential to reach new highs. If the asset successfully retests its breakout and maintains its bullish trajectory, a rally to $15 remains a possibility within this market cycle.

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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