Ripple's XRP Seeks to Clear Key Resistance Ahead of Potential $60 Breakout
XRP's long-term technical setup is pointing to significant price appreciation potential, according to crypto analyst Ali Martinez. The asset currently trades near $1.40 after a 3.05% decline over the past 24 hours. A prominent bullish continuation pattern, known as an ascending triangle, has been forming on XRP's monthly chart for nearly a decade.
An ascending triangle is typically seen as a sign of potential upward movement if the resistance line is broken decisively. Martinez highlighted that a sustained breakout above $3.66 on the monthly chart would be a significant development for XRP, potentially confirming the completion of this pattern.
If such a scenario unfolds, it could open the path toward a long-term technical target near $60, several thousand percent above current levels. However, industry observers caution that reaching this level would require XRP to overcome multiple resistance levels.