XRP's Symmetrical Triangle Tests Bulls and Bears Alike

Crypto analyst Ali Martinez has identified a symmetrical triangle in XRP's hourly chart. This pattern suggests that buyers and sellers are evenly matched, and a significant move is likely once one side takes control.

An hourly close above $1.54 could trigger a 10% rally for XRP, according to Ali's prediction. However, the current price of $1.48 is down approximately 4% in the past 24 hours and about 4% over the last week.

The XRP Scarcity Index has hit its lowest point since January 2025, flooding Binance with available supply and making a breakout harder to achieve. The index fell to -0.94 on September 30, indicating that more XRP is ready to be traded than at any point in the last 20 months.

Even if XRP breaks through $1.54, it may face challenges at the $1.70 mark, where selling pressure halted its rise in August and September. The recent 4% drop suggests traders may be waiting for the merger to complete rather than buying beforehand.