XRP Price to Hit $60 as Ascending Triangle Breakout Looms

XRP's price has been stagnant at around $1.40 after recent market weakness, but analyst Ali Martinez believes it could reach as high as $60 in the long term.

Martinez points to a multi-year ascending triangle structure on XRP's monthly chart, which he says could break out above the key resistance level of $3.66.

If this breakout occurs, Martinez predicts that XRP's price could target $60, but emphasized that technical targets do not guarantee a specific price outcome.

XRP's recent performance has seen it recover from levels near $1.00 before consolidating around the $1.40 area, while exchange-traded fund data shows continued institutional exposure to the asset.