Market Data 
A well-known analyst has insisted that XRP still has the potential to reach a two-digit price this cycle, citing its extensive symmetrical triangle formation.
This view, which came from market veteran Ali Martinez, aimed to counteract the prevalent bearish sentiments amid XRP’s downward trend. Notably, as the broader market faces a turbulent phase, XRP has been a victim of this rout, down nearly 29% from the $3.4 peak in mid-January.
The asset staged a recovery effort earlier this month but witnessed resistance that led to an 18.83% intraday decline on March 3, the highest since the Terra collapse in May 2022. Interestingly, despite the turbulence, Martinez believes an earlier projection to $15 remains intact.
The Years-Long Symmetrical Triangle
He discussed this in his latest commentary, calling attention to a seven-year symmetrical triangle formed by XRP from January 2018, when it collapsed from the $3.8 all-time high. For context, even before XRP’s recent breakthrough, multiple analysts had identified this triangle, stressing that a breakout could lead to substantial gains.
In his recent analysis, Martinez confirmed that as XRP formed lower highs from January 2018, this extended the descending trendline at the top. Meanwhile, as the altcoin observed higher lows within this period, it extended the ascending trendline at the bottom. This essentially formed the symmetrical triangle.
XRP Symmetrical Triangle Breakout | Ali Martinez
Notably, XRP eventually broke out of this symmetrical triangle structure when it skyrocketed by a massive 283% in November 2024 on the back of President Donald Trump’s victory. This marked XRP’s largest monthly gain in seven years, setting the stage for a sustainable uptrend.
XRP Retesting Triangle Breakout
However, after two more months of upside, XRP now appears to be seeing a pullback amid the broader market’s downturn. Data from Martinez’s chart shows that this is likely a natural retest of the triangle breakout. Interestingly, even if XRP drops below $2, it would still maintain the breakout as long as it holds above $1.
Retests like this are expected in the market and typically confirms the strength of the breakout before any other explosive surge. As a result, Martinez maintains that XRP’s earlier target of $15 remains intact. The asset would likely aim for this level once it recovers from the ongoing correction.
The analyst likely reached this target by measuring the height of the widest point of the symmetrical triangle and then adding this distance to the breakout point. Currently, XRP changes hands at $2.43, already up 13.7% this month. To reach the $15 mark, the asset would need to rise by an additional 517% from the current level.
Notably, as XRP looks to break free from the bearish pressure in the short term, analyst CW recently highlighted a sell wall between $2.5 and $2.62 that could present resistance. According to him, however, if XRP decisively breaks this wall, it would witness a smooth sail to the $2.8 mark.
