Ripple's cross-border token XRP has emerged from a years-long technical formation, potentially signaling another significant rally despite recent market turbulence. The breakout comes after a volatile period for the digital asset, which currently trades around $2.38.
Technical analysis shared by cryptocurrency analyst Ali Martinez suggests the token could reach an ambitious target of $15, representing a surge of approximately 530% from current levels. Such a move would catapult XRP's market capitalization to nearly $900 billion, positioning it close to Bitcoin and substantially above Ethereum in total valuation.
"Since January 2018, XRP appears to be forming a symmetrical triangle pattern, indicating a potential bullish continuation where every lower high XRP made created a descending trendline at the top and every higher low created a rising trendline at the bottom," Martinez stated. "Now that XRP has broken out of the triangle, there's a chance XRP can continue rising to reach a target of $15."
The prediction, while striking, follows months of extraordinary activity for the digital asset. XRP experienced a dramatic 470% price increase in the aftermath of the U.S. presidential elections, jumping from under $0.60 to briefly touch $3.40 — matching its previous all-time high set during the 2017/2018 bull cycle.
This surge proved unsustainable in the short term. A subsequent market-wide correction has since pushed prices lower, though XRP remains significantly above its pre-election levels.
The asset has maintained a dedicated following throughout its nearly decade-long presence in cryptocurrency markets. XRP supporters have remained steadfastly optimistic despite prolonged periods of underperformance following the 2017/2018 bull market.
Their persistence was partially rewarded by the post-election rally, though the token has yet to establish new all-time highs unlike many of its peers in the cryptocurrency sector. XRP's performance has been particularly constrained by regulatory challenges in recent years.
Potential catalysts for further price appreciation include a favorable resolution in Ripple's ongoing lawsuit with the Securities and Exchange Commission. A positive outcome could potentially lead to XRP being categorized as a commodity in the United States, providing regulatory clarity that has eluded the asset for years.
Market observers note that approval of an XRP exchange-traded fund could provide additional upward momentum, similar to the effect observed with Bitcoin and Ethereum ETFs. However, such developments remain speculative until regulatory decisions are finalized.
While the $15 target represents an exponential increase from current prices, XRP's recent history demonstrates its potential for rapid price appreciation under favorable market conditions. Whether such technical projections can materialize in the current market environment remains to be seen.