XRP Must Rally 158% for Analyst's $60 Price Target
A prominent crypto analyst, Ali Martinez, has set an ambitious price target for XRP at $60. However, he emphasizes that this will only happen if XRP first breaks through a major resistance level at $3.66.
Martinez's thesis is based on a nearly decade-long chart structure, which he describes as a massive ascending triangle. He believes that once XRP closes above the $3.66 threshold, the technical target near $60 will become active.
The current price of XRP is around $1.42, meaning it would need to gain approximately 158% just to reach Martinez's breakout threshold. A move from today's price to $60 would amount to more than 4,100%. If XRP were to hit the $60 target, its market capitalization would increase to roughly $3.76 trillion.
Martinez notes that his prediction is a long-term chart target and not a forecast for this year. He also points out that another analyst had previously predicted a similar outcome using the 'Big Yellow Triangle' model.