XRP on Track for 30% Rally to $2: Analyst

Crypto analyst Ali Martinez believes XRP can reach $2 if it consistently closes above an inverse head-and-shoulders pattern. The analyst identified a neckline for this potential pattern at $1.5663 and expects a decisive break above it to confirm the pattern and trigger another 30% rally.

Martinez also pointed out that large whale holders, typically XRP Ledger addresses holding between 10 million and 100 million tokens, have accumulated 1.54 billion tokens valued at about $2 billion despite the altcoin being trapped in a consolidation.

The analyst highlighted notable demand for XRP from these whale investors and believes this will lead to a rally towards a target of $2. He also noted that nearly 2.5 billion tokens were traded around $1.60, creating a strong on-chain resistance level.