XRP Price Targets $1.46 as Analyst Sees Potential 5% Rally

Crypto analyst Ali Martinez believes that XRP's price could be on the cusp of a rally to $1.46 if it consistently closes above $1.40 in the 1-hour timeframe, which would represent a 5% upside.

This comes as the token has been forming a symmetrical descending triangle, a pattern where buyers defend a support level near $1.3851 while sellers help form the hypotenuse. As XRP's price is squeezed towards the apex of this triangle, Martinez expects a strong rally towards his target if the sellers yield.

The analyst's prediction is based on XRP's 1-hour chart, which shows a clear pattern of buyers and sellers fighting for control. Meanwhile, institutional investors have been accumulating XRP via spot exchange-traded funds (ETFs), with eight consecutive weeks of cash inflows amounting to $202.28 million at the time of writing.

This notable demand from institutions has contributed to XRP's price surge by over 34% in the past 30 days, with its market capitalization reaching roughly $87.92 billion and a 24-hour trading volume of $2.03 billion.