XRP Triangle Breaks: Bulls or Bears Control the Crypto's Fate

Crypto analyst Ali Martinez has observed that XRP is forming a symmetrical triangle on its hourly chart. This pattern indicates that buyers and sellers are evenly matched, and a significant move is likely once one side takes control. A symmetrical triangle forms when a cryptocurrency makes lower highs and higher lows at the same time, with traders drawing lines connecting the peaks and lows to create a narrowing shape.

XRP needs to climb 4% to reach the critical breakout point identified by Ali, which is $1.54. If XRP breaks out and rises 10% from $1.54, it will target around $1.69, but this may face challenges at the $1.70 mark, where selling pressure halted XRP's rise in August and September.

More XRP is available to trade on Binance, with the XRP Scarcity Index from CryptoQuant falling to -0.94 on September 30, its lowest since January 2025. This means buyers will need to invest more to push the price above $1.54, as XRP ETFs continue to receive inflows despite the price struggles.

The timeline also adds another layer to the situation, with Evernorth listing on Nasdaq on October 8 with 473 million XRP. However, since Evernorth already owns these tokens, the listing won't introduce any new buying on its first day.