Crypto analyst Ali Martinez has provided a bullish outlook for the XRP price, predicting that it could still rally to as high as $15 in this market cycle. The analyst also revealed why XRP could record such a parabolic rally to this price target.
Why The XRP Price Can Reach $15
In an X post, Martinez stated that the XRP price can still reach $15. He noted that since January 2018, XRP has appeared to be forming a symmetrical triangle pattern, indicating a potential bullish continuation where every lower high the crypto has made creates a descending trendline at the top.
Meanwhile, every higher low created a rising trendline at the bottom. Now that XRP has broken out of the triangle, the analyst remarked that there is a chance that the crypto could keep rising to reach the $15 target.
This prediction comes just as crypto analyst Egrag Crypto predicted that the XRP price could rally to $10 in this market cycle. The analyst outlined bullish fundamentals such as the XRP ETFs, regulatory clarity, and growing adoption as the reasons why this price prediction is “reasonable.”
In a recent X post, Martinez highlighted XRP’s growing adoption, which undoubtedly presents a bullish outlook for the crypto. He revealed that the total number of XRP addresses just hit a new all-time high (ATH) of 6.87 million.
Crypto analyst Mikybull Crypto also recently provided a bullish outlook for XRP. In an X post, he indicated that a massive run to a cycle top after the current consolidation could be imminent, just as it did in 2017. The analyst added that a rally to between $5 and $10 seems possible in this cycle.
Update On the Current Price Action
In an X post, crypto analyst CasiTrades noted that the XRP price just broke above $2.25, a key midline resistance, and is showing strong momentum as it heads towards the next major resistance at $2.37. She added that this level is critical because it marks the upper trendline of consolidation. According to her, a confirmed breakout above this level could signal the start of a larger move.
As to what could happen next, CasiTrades stated that she is watching out for a few possibilities. If XRP blasts through $2.37 with strength, she claimed that the crypto could rally toward $2.70 before a sharp rejection testing support.
The analyst also remarked that a slower approach would be reaching $2.37, flipping this into support first and then making a stronger push higher. If XRP fails to hold above $2.37, it could face a temporary rejection and remain in consolidation longer.
As a CoinGape market analysis noted, the XRP price is holding well above the $2 support as Ripple enters the Dubai market, which is a huge positive.
Meanwhile, CasiTrades stated that the macro trend remains fully valid and that this entire structure continues to look like the early stages of Wave 3 up. This impulsive wave could take XRP past previous all-time highs and toward the $8 to $13 range. In the meantime, the key levels to watch are the $2.25 support, $2.37 resistance, and the $2.70 major breakout level target.
The post Analyst Predicts XRP Price To Reach $15, Here’s Why appeared first on CoinGape.
