Fun

XRP Price Ready For A 14% Upswing? Here’s Its Potential Path

News Feed - 2025-02-24 06:02:01

Este artículo también está disponible en español.


A popular analyst has painted a fresh bullish outlook for the XRP price, putting forward a short-term target around the $3 mark. Here is the altcoin’s potential path to this price target over the coming days. Is A Return To $3 Feasible For XRP?


Crypto analyst Ali Martinez took to the social media platform X to share an exciting analysis of the XRP price. According to Martinez, the third-largest cryptocurrency could be gearing up for a 14% price move in the next few days. Related Reading Bitcoin Price Suppression Below $100,000 Worries Investors, JPMorgan Analysts Reveal Real Problem 21 hours ago


This bullish forecast is based on the formation of a symmetrical triangle pattern on the 1-hour timeframe of the XRP price chart. The symmetrical triangle is a chart pattern used in technical analysis characterized by a diagonal falling upper trendline (connecting the swing highs) and a diagonally rising lower trendline (along the swing lows).


Typically, the asset price narrows and moves toward the apex in a symmetrical triangle pattern. The price will eventually breach the upper trendline for a breakout or breach the lower trendline forming a breakdown. This symmetrical triangle formation could serve as a continuation or reversal pattern depending on the direction of the break.


However, symmetrical triangles usually tend to be continuation break patterns, meaning the price tends to break in the initial trend direction before it fell into the triangle pattern. If this logic is to go by, the XRP price is likely to continue its upward movement after it breaks out of the current layout.


Nonetheless, it is important to wait for the close of at least two candlesticks above the upper trendline to confirm a bullish breakout. As shown in the chart below, the price target is determined by adding the length of the widest point of the triangle (or base) to the breakout point. Source: Ali_charts/X


Using this strategy, Martinez projected that the XRP price could be preparing for a 14% upward swing from its current point. This means investors could see the altcoin travel to as high as the $3 region over the coming days. XRP Price At A Glance


As of this writing, the price of XRP stands around $2.55, reflecting an over 1% decline in the past 24 hours. While XRP has been one of the best-performing assets in recent weeks, the last seven-day period was not particularly favorable for the altcoin. According to data from CoinGecko, the XRP price has declined by nearly 10% in the past week. Related Reading Dogecoin Whales Go On A 110-Million Memecoin Buying Spree—What’s Next For DOGE? 1 day ago The price of XRP on the daily timeframe | Source: XRPUSDT chart on TradingView Featured image from iStock, chart from TradingView

News Feed

Biggest Movers: ADA Hits Multi-Week Low, as Red Wave Hits Crypto Markets
Biggest Movers: ADA Hits Multi-Week Low, as Red Wave Hits Crypto Markets Cardano fell to a multi-week low on March 2, as cryptocurrency prices were mostly lower in today’s s
David Attlee51 minutes agoTaiwan’s major crypto exchanges form association to advance industry interestsMaiCoin Group, BitoGroup and Ace Exchange became the first three founders of the Taiwan Virtual Asset Platform and
Optimism Raises $150 Million in Series B Funding Round Led by Paradigm and A16z
Optimism Raises $150 Million in Series B Funding Round Led by Paradigm and A16z Optimism, an L2 (Layer 2) rollup solution for Ethereum, has raised $150 million in its Series B fund
Swiss regulator FINMA targets stablecoin issuers in new proposal
Amaka Nwaokocha1 hour agoSwiss regulator FINMA targets stablecoin issuers in new proposalAs stablecoins continue to gain traction globally, regulatory initiatives such as FINMA’s guidance are likely to influence polici
Walmart Investigates How Fake Press Release of Its Partnership With Litecoin Got Posted
Walmart Investigates How Fake Press Release of Its Partnership With Litecoin Got Posted Following the fake news of its partnership with Litecoin, Walmart Inc. says it is looking in
California DMV putting vehicle titles on a subnet is innovation theater
Omid Malekan3 hours agoCalifornia DMV putting vehicle titles on a subnet is innovation theaterIt would be harder than putting VINs on a private subnet, but how about allowing vehicle owners to get zero-knowledge proof of
Bitcoin․com Partners with HAPI to Launch High-Yield Farm on Verse DEX and Enhance Wallet and DEX Security
Bitcoin․com Partners with HAPI to Launch High-Yield Farm on Verse DEX and Enhance Wallet and DEX Security press release Bitcoin.com , a global leader in accessible cryptocurrency
Amaka Nwaokocha10 hours agoDubai VARA grants ‘initial approval’ to crypto firm WadzPayThe license allows WadzPay to begin preparing to provide virtual asset services and activities under the VASP License for Transfer
Fed’s Powell Scrutinized for Owning Bonds of the Same Type the Central Bank Bought During Pandemic
Fed"s Powell Scrutinized for Owning Bonds of the Same Type the Central Bank Bought During Pandemic As a number of Federal Reserve presidents have been criticized for their 2020 sto
Indian Finance Minister Pushes for International Cooperation on Crypto Regulation — Discusses Awareness Campaign
Indian Finance Minister Pushes for International Cooperation on Crypto Regulation — Discusses Awareness Campaign Indian Finance Minister Nirmala Sitharaman has stressed the impor
Russian Businesses to Choose Which Crypto to Use for Cross-Border Settlements, Lawmaker Says
Russian Businesses to Choose Which Crypto to Use for Cross-Border Settlements, Lawmaker Says Russian companies may start transacting in cryptocurrency with partners abroad as early
While GBTC Bitcoin Stacking Slows, Grayscale Accumulates Alternative Crypto Assets
While GBTC Bitcoin Stacking Slows, Grayscale Accumulates Alternative Crypto Assets Established in 2013, the firm Grayscale Investments has managed to become the