XRP Positioned for a Rally? Analyst Calls It One of the Most Bullish Setups
Prominent crypto analyst Ali Martinez has brought attention to the XRP price chart, describing it as one of the most bullish setups in the crypto market.
While the broader crypto market has been uncertain in recent weeks, XRP has continued to make headlines for its resilience.
The asset is once again attracting attention as a prominent crypto analyst highlights a potentially significant bullish price setup.
XRP has Retested a Key Level
Notable crypto analyst Ali Martinez has focused on XRP’s price chart.
“In the current crypto market, XRP has one of the most bullish setups,” he wrote in a post on Tuesday, January 14, referring to the asset’s recent retest of the upper bounds of an asymmetrical triangle pattern on its four-hour candle chart.
According to the chart, XRP has been forming this pattern since reaching a seven-year high of $2.9 in December 2024 and initially breaking out of the pattern to the upside on Saturday, January 12.
Martinez’s optimism following the retest is due to the belief among traders that successful retests offer stronger confirmation of a price breakout and direction.
This could be significantly bullish as the analyst has set a target far exceeding XRP’s all-time peak of $3.40.
XRP Aiming for $10?
Martinez has consistently highlighted this asymmetrical triangle pattern on XRP’s chart since at least December 30. His target is between $10 and $11.
For context, XRP is currently trading at $2.57, and a surge to the $10 price point would represent a nearly 300% increase.
Meanwhile, some argue that XRP’s peak in this market cycle could be much higher. For example, prominent XRP permabull “EGRAG CRYPTO” has recently suggested that the asset could surge to as much as $27.
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