The prominent cryptocurrency analyst, Ali Martinez, shared a bullish look at XRP, indicating that the distinctive symbol can reach the highest level ever at $ 5.
In x mail On March 9, Martinez highlighted that this possibility depends on the continuous technical composition of XRP, which is a reverse pattern of the head and shoulder on the daily chart, and it is usually a signal reflection signal.
Select the left shoulder graph, head and right shoulder, while supporting the neckline at about $ 2.15 that works as a decisive or broken area.
Martinez explained that in order to keep the ups in the ups, XRP should avoid closing under this neckline and instead it breaks over the right shoulder level near $ 2.80.
A successful penetration can mobilize about 5 dollars. However, if the XRP closes less than $ 2.15, the landline scenario will be confirmed, which may pull the distinctive symbol to low price levels before any recovery.
XRP Mirroring 2017 Rally
There is additional support for the possibility of mobilizing XRP is similar to Bull Run for 2017. Analyst Dark defender He has Note The similarities between the current market structure of XRP and price procedures before explosive collapse of 2017.
At that time, XRP was traded in a long standardization stage before more than 62000 %, to the highest level ever of $ 3. Quickly forward to 2025, and it appears that XRP follows a similar path, as it came out again from a multi -year accumulation stage.
Overall, the long -term feelings about XRP are still upward. The assets have risen about 400 % in the past four months, and many bullish stimuli are still in play.
One of the main factors on the horizon is the potential lawsuit for the lawsuit of long securities and stock exchanges (SEC) in Ripple, which has been continuing since December 2020. If it is rejected or settled, this may lead to the removal of a major organizational accumulation and a significant increase in the price of XRP.
Besides the lawsuit, speculation is escalating to agree to Spot Spot ETF, with Bloomberg Estimating an opportunity of 65 % for approval this year – especially if organizational clarity improves. Institutional demand from ETF can inject fresh capital in XRP, which increases its crowd.
If these stimuli are alignment, the XRP can restore its highest level ever at $ 3.84, with analysts offered a potential step of about $ 5. Some even indicate that the original can enter the dual -number evaluation area.
XRP price analysis
At the time of the press, XRP was showing signs of monotheism, as it was circulated at $ 2.25, a decrease of 2.5 % in the past 24 hours and 0.5 % during the past week.
From a technical perspective, a short -term feeling looks down, as XRP is trading less than a 50 -day moving average (SMA) of $ 2.62. However, it is still much higher than SMA for 200 days than $ 1.576, indicating that the long -term upward trend is still intact.
Distinctive image via Shutterstock
