Key Insights:
- XRP price prediction chart currently hints at a bullish reversal.
- Analyst Ali Martinez believes Ripple’s XRP could reach $1.90 in the short term.
- The support zone at the $1.30 level, which could boost the upside.
Ali Martinez, a crypto analyst, has identified a positive structure in the XRP price chart. His analysis points to a possible trend reversal. It is based on indicators, on-chain data, and chart patterns.
XRP Chart Shows Trend Reversal
Martinez noted that XRP “appears to be undergoing a structural trend shift from bearish to bullish.” This is a reversal of several months of weak XRP crypto price action.
In the daily chart, he reported that the SuperTrend indicator flashed a ‘buy’ signal, the first since January. Furthermore, he wrote, this flip indicates that the selling pressure is declining and XRP may be preparing to turn around.
The SuperTrend indicator follows the direction of the trends. The direction of price increases is its resistance band, which gives a bullish indication. This is usually an indication of a buildup on the upswing. In this case, it is the first such signal in months.
On-chain data also supports the bullish argument. Martinez indicated that “large investors are positioning for this shift.” He quoted Santiment data. He claims that in the last week alone, whales have collected approximately 360 million XRP.
The “XRP Held by Whales” chart shows this clearly. It monitors the balances of large holders. The bars have been gradually increasing in recent days. The number of holdings changes to almost 8.8 billion XRP, up from approximately 8.3 billion XRP. This implies concentration by large players.
Whale buying is common during periods of consolidation. It may be an indicator of an anticipated price rise.
What’s Next for XRP Price?
Another important chart pattern identified by Martinez was the one. “As the macro trend flips and supply is pulled off exchanges, a symmetrical triangle has formed on the lower time frames,” he said. It can be observed on the 12-hour chart.
A symmetrical triangle refers to one that is drawn when the price has lower highs and higher lows. The variance becomes narrow with time. This exhibits volatility compression. It also results in a breakout move.
In his XRP price prediction, Martinez noted that this trend has put the price in a narrow band. He is now expecting a 35% surge in the XRP price when it breaks out. As the chart indicates, XRP is trading around the apex of the triangle. It is in this place where breakouts tend to occur.
Important levels now come into focus for the Ripple native token. Martinez noted that when XRP closes above $1.55, it would confirm the breakout, with a target of $1.90. This level coincides with the top trendline.
According to him, this bullish trend will hold as long as XRP does not break down from the $1.30 support zone. This is the same level as the bottom of the triangle.
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