XRP Breakout Imminent: Analyst Sees Double-Digit Pump Coming

Ripple's XRP token has been gaining momentum lately, and analyst Ali Martinez is optimistic about its prospects. The asset posted a modest 3% daily gain, which, according to Martinez, 'appears to be breaking out.' He believes that a sustained close above $1.38 would confirm a breakout and could open the door to a rally toward $1.60.

Martinez notes that XRP's recent pullback from its local top was likely driven by profit-taking, with whales selling or redistributing around 90 million units in a week. He also points out that network activity has fallen sharply, with daily active addresses down more than 90%.

Despite these concerns, other market observers are more bullish on XRP's prospects. STEPH IS CRYPTO notes the formation of a 'cup and handle' pattern on XRP's price chart and projects a potential ascent to $2.50. Crypto Bitlord is even more optimistic, suggesting that the asset's volatility appears to be stabilizing and predicting a push toward $2 followed by an explosion to a new all-time high.

The growing institutional demand for XRP is also supporting its long-term outlook. Spot XRP ETFs have smashed another all-time high, with total net inflows reaching $1.7 billion. Companies such as Bitwise and Canary Capital are among those that have launched these products, which are attracting significant investment.