A prominent market analyst has reaffirmed that XRP could still achieve a two-digit price level this cycle. Despite its recent downturn, a long-term symmetrical triangle pattern indicates possible upward movement.
XRP’s Seven-Year Symmetrical Triangle
Market expert Ali Martinez recently revisited XRP’s multi-year symmetrical triangle, forming since January 2018. This pattern features descending resistance and ascending support, creating a converging triangular structure. In November 2024, XRP surged by more than 283% following the US presidential elections, indicating a potential shift toward a long-term bullish trend.
Retesting the Breakout Before the Next Move
Following its breakout, XRP continued upward before a correction amidst broader market downturns. Martinez describes this as a natural retest, confirming breakout strength before the next price move. Data implies that as long as the token holds above $1, the breakout remains viable.
Short-Term Resistance and Future Outlook
While the long-term outlook remains bullish, XRP faces short-term resistance at $2.50-$2.62, potentially slowing its ascent. However, overcoming this hurdle could see the token reach $2.80 and beyond.
Despite current market fluctuations, historical patterns and technical indicators suggest potential for XRP to reach new highs. With successful breakout retests and sustained bullish trends, XRP could still rally to $15 within this market cycle.
