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$XRP might be targeting an ambitious two-digit price mark after breaching a 7-year symmetrical triangle on the weekly chart.
This is according to a recent analysis from prominent market commentator Ali Martinez (Ali Charts). The analyst suggested that despite the ongoing consolidation phase, $XRP is currently in a bullish position, and an imminent run to $15 could be on the horizon.
For context, after its impressive 580% rally from $0.50 in November 2024 to a seven-year peak price of $3.4 in mid-January 2025, $XRP witnessed a massive correction alongside the rest of the crypto market. However, despite this pullback, it has held above $2, still 440% up from the November 2024 price.
Interestingly, amid the pullback and subsequent consolidation, Martinez has identified that the bulls are still in control. Notably, during the 580% rally, data suggests $XRP broke out what appears to be a symmetrical triangle on the weekly chart.
$XRP Targets $15 After Symmetrical Triangle Breakout
While the analyst called attention to this triangle, he expressed uncertainty. However, if the structure is indeed a symmetrical triangle, Martinez believes $XRP has already broken out. Currently, the asset has sustained the breakout despite the pullback in February.
Data from the chart indicates that the symmetrical triangle formed when $XRP collapsed from the $3.8 all-time high price in January 2018. The altcoin first attempted a breakout when it soared to $1.96 in April 2021, but the bears mounted intense resistance at this level.
However, the latest attempt appears to have been successful. Martinez sees $XRP building on this momentum to reach the $15 price. With $XRP currently changing hands at $2.71, the asset would only need to increase by an additional 453% to claim this $15 price mark.
In his chart, Martinez identified several levels $XRP would need to surpass before claiming the $15 region. First, the altcoin must reclaim $2.75, representing the Fib. 1 level. From here, $XRP has to conquer the 1.272 Fibonacci extension at $6.08 before hitting the $9.22 price (Fib. 1.414) and then pushing to the $15 mark.
Interestingly, other analysts have also projected an $XRP surge to $15. Bobby A suggested that if $XRP can mirror only 50% of its 2017 upsurge, the asset could hit $15. Last August, a community figure asserted that while overly ambitious targets like $1,000 are unrealistic, a $15 price is readily achievable.