Analyst Ali Martinez Issues $60 Price Target for XRP After Ascending Triangle Formation
Crypto analyst Ali Martinez told his followers XRP has formed a massive ascending triangle on the monthly chart with a potential technical target near $60.
Why it matters
The story is limited in significance as it represents a single analyst's technical analysis projection rather than confirmed market action or institutional adoption. The $60 target, while attention-grabbing, would require XRP to appreciate dramatically from current levels.
Key facts
XRP surged 70% in less than 72 hours reaching $1.70 on August 21-22
70 %Reported by CryptoPotato
XRP fell to under $1.35 after rejection
1.35 USDReported by CryptoPotato
Ali Martinez told his 166,000 followers XRP has been forming a massive ascending triangle on the monthly chart
166,000 followersReported by CryptoPotato
A break above and close north of $3.66 would confirm breakout and activate technical target near $60
3.66 USDReported by CryptoPotato
XRP is up 40% from multi-year lows marked less than a month ago
40 %Reported by CryptoPotato
What happened
CryptoPotato reported that analyst Ali Martinez has issued a bold $60 price target for XRP, claiming the token has been forming a massive ascending triangle on the monthly chart. Martinez previously outlined a more modest target of $1.70 after XRP reached that level on August 21-22 following a 70% surge in less than 72 hours. The token was rejected at that level and fell to under $1.35, but has since rebounded to $1.40. Martinez told his 166,000 followers that a break above and close north of the key barrier at $3.66 would confirm the breakout and activate the technical target near $60. Market observer EGRAG CRYPTO was also noted as being bullish on the token.
How the story developed
- Update
XRP surged 70% in less than 72 hours reaching $1.70
August 21-22 price action
- First report
First report by CryptoPotato
XRP’s Breakout Rally Has Begun, Analysts Say – But Their Targets Will Shock You
- Update
Ali Martinez outlined $1.70 target for XRP
Previous post by analyst
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CryptoPotato Crypto media | XRP’s Breakout Rally Has Begun, Analysts Say – But Their Targets Will Shock You | Original |
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