XRP Positioned for a Rally? Analyst Calls It One of the Most Bullish Setups
Prominent crypto analyst Ali Martinez has drawn attention to the XRP price chart, calling it one of the most bullish in the crypto market.
While the broad crypto market has been filled with uncertainty in recent weeks, one asset has continued to grab headlines for its resilience: XRP.
The asset is again drawing attention amidst a broad relief rally as one prominent crypto analyst has highlighted a potentially significant bullish price setup.
XRP Retests Key Level
Notable crypto analyst Ali Martinez has drawn attention to XRP’s price chart.
“XRP has one of the most bullish setups in crypto right now,” he wrote in an X post on Tuesday, January 14, citing the asset’s recent retest of the upper bounds of an isometric triangle pattern on its four-hour candle chart.
Per the chart, XRP has been forming this pattern since it hit a seven-year high of $2.9 in December 2024 and initially broke out of the pattern to the upside on Saturday, January 12.
Martinez’s optimism following the retest comes as traders typically believe that successful retests offer stronger confirmation of a price breakout and direction.
It could be significantly bullish as the analyst has set a target far beyond XRP’s all-time peak of $3.40.
XRP To $10?
Martinez has continued to highlight this asymmetrical triangle pattern on XRP’s chart since at least December 30. The target? Between $10 and $11.
For context, XRP is currently trading at $2.57, and a surge to the $10 price point will represent a nearly 300% increase.
Meanwhile, some contend that XRP’s peak in this market cycle is far higher. For example, prominent XRP permabull “EGRAG CRYPTO” has recently argued that the asset could surge to as much as $27.