XRP Surges Towards $31.87 as Ascending Triangle Formation Takes Shape

Crypto analyst Ali Martinez has identified an ascending triangle formation on XRP's monthly chart. The technical pattern suggests that if XRP breaks through the critical resistance zone around $3.66 with a monthly close, it could lead to a measured move toward $31.87.

According to Martinez, this would represent an approximate 2,000% increase from present pricing. He also applied his analysis framework to other prominent digital assets, including Bitcoin, Ethereum, and Solana.

In the case of XRP, Martinez' assessment aligns directionally with trader MikybullCrypto's view that 'XRP is one of the most bullish charts out there,' though the specific price objectives differ between the two analysts. Meanwhile, FXEmpire has also identified a recurring two-week chart fractal in XRP's price history.

Historical data shows that XRP has repeatedly developed a descending resistance trendline following major tops, while maintaining an ascending support line below. This configuration emerged after XRP's 2018 high and produced a 900% rally into 2021. If this fractal pattern continues its historical behavior, XRP could reach the $3.40-$3.50 range, representing approximately 125% upside from current prices.