XRP Breakout Target: Analyst Sees $60 as Viable with Key Barrier Breach

Ripple's XRP has been forming an ascending triangle on its monthly chart for nearly a decade. Analyst Ali Martinez believes this pattern could be a sign of a potential breakout, with a technical target near $60.

According to Martinez, a key barrier at $3.66 must be broken for the breakout to occur. If XRP closes above this level, it would confirm the ascending triangle and trigger the technical target near $60.

The analyst notes that an ascending triangle is generally viewed as a bullish chart pattern, indicating a prior uptrend likely to resume.

XRP's all-time high remains at $3.84, so a price surge of 4,185.71% would be required for the asset to reach the target.