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.

✓ Share:

Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.