XRP Holders on High Alert as $1.54 Breakout Targeted

Crypto analyst Ali Martinez (@ali_charts) has identified a crucial price level for XRP holders to watch. According to Martinez, a breakout above $1.54 on the hourly chart could trigger a roughly 10% move towards $1.70.

The hourly chart shows a narrowing range for XRP, with the price trading near $1.51. Martinez sees a symmetrical triangle developing on the chart, with the upper trendline descending from just above $1.60. The lower trendline rises from near $1.40, and the two lines converge near $1.50.

Buyers have stepped in at higher prices over time, causing the price range to shrink as it approaches the convergence point. Martinez has added a gray line to the chart to show a possible route, which involves a dip towards the lower trendline, a rebound, and a crossing of the horizontal line at $1.54.

Traders can focus on hourly closes near $1.54 in the coming sessions, as this could confirm the breakout and trigger the predicted move.