An expert has proposed a possibility of XRP reaching a staggering target of $15, based on an emerging pattern in its recent price surge. Ali Martinez, a renowned analyst, shares his insights on the potential trajectory of XRP, using a technical analysis (TA) pattern known as the Symmetrical Triangle.
Martinez highlighted this pattern in a recent post on X. The Symmetrical Triangle is formed when an asset’s price fluctuates between two converging trendlines with roughly equal slopes. The upper trendline links consecutive lower highs, while the lower one connects higher lows. Depending on the asset’s performance, either of these lines could signify a continuation of the trend in the corresponding direction. A breakthrough above the triangle is a bullish sign, while a drop below signals a bearish trend.
As the price range within the Symmetrical Triangle tightens over time, the likelihood of a breakout increases as the asset approaches the triangle’s apex. Other types of triangles in TA include Ascending and Descending Triangles, which occur when one trendline is parallel to the time-axis. These patterns suggest a net upward or downward consolidation, respectively.
Martinez shared a chart demonstrating the Symmetrical Triangle in which XRP has seemingly been trading for a significant period before a breakout occurred. XRP approached the apex of a long-term Symmetrical Triangle last year, making a breakout likely. This was confirmed by the coin’s bull rally during the final months of the year, breaking above the pattern.
The height of the triangle is generally assumed to predict the length of the breakout. Given the height of the Symmetrical Triangle in this case, XRP could potentially reach a bullish target of $15. Of course, this prediction is valid only if XRP’s current path is indeed governed by this Symmetrical Triangle.
If the coin does follow this pattern and experiences a bull run to this level, it could mark a more than 500% increase from the current price. XRP is currently trading around $2.45, showing a 3% increase over the last week.
