After consolidating in a tightening technical pattern, XRP may be eyeing a decisive move, according to renowned market analyst Ali Martinez.
Taking on X, formerly Twitter, Martinez said the 5th-largest cryptocurrency by market cap may be inching toward a bullish push as price action moves toward the apex of a triangle formation.
The analyst also pointed out that XRP whales have remained largely inactive over the past week. Their combined holdings have hovered around 3.90 billion XRP, showing no significant accumulation or distribution during the period.
What can be deduced from this development? Well, while the lack of whale activity suggests caution, the tightening price structure could soon force a larger move.
Martinez also believes traders should watch the $1.53 level closely, since a close above it could trigger a bullish breakout to $1.62.
Per CoinGecko data, XRP is trading at $1.40, just below the decisive level that could trigger renewed bullish momentum.
What’s the Broader XRP Picture?
Veteran analyst Peter Brandt has delved deeper into XRP’s technical structure, noting that it is forming a potential cup-and-handle pattern, a structure often associated with bullish continuation.
If this setup plays out, Brandt has pointed to $2.16 as a potential price target for XRP.
Adding to the bullish narrative, trader Crypto Michael recently urged XRP bulls to prepare for what he describes as “a lot of green.” The trader previously highlighted XRP’s breakout from a seven-year pennant in 2024, before the altcoin eventually pushed above $3 later that year.