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Top News By Agency By Country By Publication Time The Most Read Stories Most Viewed Agencies All News XRP $15 Breakout? Not A Far-Fetched IdeaAnalysis © Copyright Image: NewsBTC
After dropping to less than $2 last March 11th, Ripples XRP springs back to life and its currently trading between $2.30 and $2.40. And with the US Securities and Exchange Commission vs Ripple case nearing its resolution, the market can expect more price volatility for this digital asset.
Within this context, market analyst Ali Martinez boldly claims that Ripples native coin still have the legs to hit a two-digit figure this cycle, using an extensive symmetrical triangle formation as a solid basis.
Martinezs view runs opposite the bearish statements from other commentators. XRP has been on a slide lately, affected by the broader crypto fall, dipping by around 25% from its $3.40 high achieved mid-January.
XRP Gradually Builds Its Symmetrical Triangle
Like most cryptos, XRP continues to have a highly volatile market performance. The token attempted a recovery early this month but met resistance, leading to a steep decline on March 11th. Interestingly, a few commentators remain bullish on the altcoin, including Martinez, who sees the token on track to reach $15.
This is why $XRP can still reach $15! pic.twitter.com/vkIiR0rnpU
Ali (@ali_charts) March 14, 2025
In his latest commentary, shared via a Twitter/X posting, Martinez highlighted the seven-year symmetrical triangle formed by this asset, which dates back to January 2018, when it dropped from its $3.80 high.
Even before Martinez shared this observation, several commentators reported the triangles formation, suggesting that a breakout could lead to a price run.
The Ascending Trendline
According to Martinez, XRP formed its lower highs in January 2018, extending the descending trendline on top. As the crypto witnessed higher lows during this time frame, it extended its ascending trendline below, creating a symmetrical triangle.
Interestingly, XRP exited the symmetrical triangle structure following the November US elections. Ripples native token surged by 280% for the month, marking the biggest 30-day increase for the asset in seven years.
Along with surprising traders, this breakout inspired fresh hope among XRP enthusiasts. While some experts noted that past breakouts do not automatically ensure continuous rallies, many saw this spike as evidence of possible long-term strength.
Still, the dramatic price fluctuation sparked conversations on XRPs future, particularly in light of further government changes and more general market movements.
Ripples XRP is currently trading at $2.37, which is 2% up in the last seven days.
XRP Currently Retesting A BreakoutAfter two months of upside, Ripples XRP is on a downturn, reflecting the broader crypto market sentiment. According to Martinez, XRPs price is currently retesting the triangle chart breakout. He also suggested that even if XRP slips below $2, its still on track for a breakout, as long as it stays above $1. Armed with the charts, Martinez believes that XRP hitting $15 is not a far-out idea.
Featured image from StormGain, chart from TradingView
Read more: https://www.newsbtc.com/altcoin/xrp-15-breakout-not-a-far-fetched-idea-analysis/
Text source: NewsBTC
Altcoin altcoins bitcoin crypto digital currency Ripple xrp XRPUSD Written by Christian Encila On Sun, 16 Mar 2025 Disclaimer: Financial information and news are not financial advice, read the disclaimer. Buy & sell Crypto in minutesJoin BINANCE!
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