Crypto analyst eyes XRP surge toward new all-time high

Crypto Analyst Eyes XRP Surge as Breakout Pattern Emerges

Popular crypto analyst Ali Martinez — who accurately predicted XRP’s price movement around the recent resolution of the Ripple vs. SEC lawsuit — has shared a fresh forecast for the token.

Posting on X (formerly Twitter) under the handle @ali_charts, Martinez highlighted a symmetrical triangle pattern forming on XRP’s price chart as of August 15. This pattern, characterized by a series of lower highs and higher lows, typically signals a consolidation phase that leads to a breakout once the trendlines converge.

According to Martinez’s analysis, XRP is currently trading around $3.10. His chart indicates that price consolidation within the triangle could continue through the end of August. A breakout above $3.26 could propel XRP to $3.90 in early September, he predicts. This would surpass its previous all-time high of $3.84, set on January 4, 2018. XRP remains the third-largest cryptocurrency by market cap, currently valued at over $184 billion.

Meanwhile, on the same day, attorney James Filan noted that the SEC reminded the court a decision is still pending regarding the joint motion to dismiss appeals in the Ripple case. As of press time, XRP was trading at $3.09. A 25% price increase would be needed to hit Martinez’s projected target of $3.90.