XRP Ascending Triangle Forms as Analyst Sees $60 Target

XRP has been trading sideways at around $1.42 on Saturday after a volatile week that saw it rise by nearly 4% over seven days.

The token's price action follows a sharp pullback earlier last week, which triggered widespread liquidations, but analysts argue the chart structure still points toward a larger move.

Ali Martinez believes XRP has formed a massive ascending triangle on its monthly chart with $3.66 as the critical resistance level. A confirmed monthly close above this level would unlock a longer-term technical target near $60, representing a significant move from current prices.