An analyst has explained a dream scenario for XRP based on a Bull Flag that the cryptocurrency has potentially been following on the monthly chart. XRP Could Be Trading Inside A Bull Flag Pattern In a new post on X, analyst Ali Martinez has discussed about how XRP has been forming a Bull Flag recently. The “Bull Flag” is a type of Flag from technical analysis (TA). Related Reading: XRP Jumps To $2.56 Despite 240% Increase In Profit Taking A Flag pattern looks like, as its name suggests, a flag on a pole. A consolidation channel with two parallel trendlines forms the “flag” portion, while an initial sharp move represents the “pole.” In a Bull Flag, the pole is charted by a move in the up direction. Generally, Flags are considered to be continuation patterns, meaning that a breakout tends to happen in the same direction as the preceding trend. In a Bull Flag, as the pole corresponds to a rally, the breakout move is also in the bullish direction. Like the Bull Flag, there is also a pattern in TA called the Bear Flag, appearing when the pole is made up by a sharp downward move. Naturally, the breakout is considered more probable in the down direction in this case. Now, here is the chart shared by Martinez that shows the Bull Flag that the 1-month price of XRP has possibly been traveling inside for the past year: As displayed in the above graph, XRP is currently trading inside the consolidation channel of the Bull Flag. Martinez has noted that a dream scenario for the cryptocurrency could now be to retest the $1.90 level, then observe a rally that ends in a bullish breakout. The $1.90 mark is where the lower level of the flag channel is located. This level usually acts as a support barrier, helping keep the price above it. A rebound at this level could be the spark to a run to $10, according to the analyst. This target is based on the fact that a Bull Flag breakout is considered to be of the same height as the pole. It now remains to be seen whether XRP will find a break beyond this flag, and if it will follow a path anything like that charted out by the pattern. Related Reading: Bitcoin Options Craze: OI Looks Set To Keep Printing ATHs, Glassnode Says The 1-month price isn’t the only timeframe on which XRP is trading inside a parallel channel right now. As Martinez has pointed out in another X post, the 3-day price is also stuck in a similar consolidation pattern. “If this bull run keeps going, XRP could offer a solid buying opportunity at $1.90 before rallying to $6,” said the analyst, based on this pattern. XRP Price At the time of writing, XRP is trading around $2.53, up 10% over the last 24 hours. Featured image from Dall-E, charts from TradingView.com
An analyst has pointed out that XRP has broken out of a Bull Pennant on the weekly chart and may now be setting its sights on this target. XRP Has Surged Above Bull Pennant Recently In a new post on X, analyst Ali Martinez has talked about how XRP has exited above a Bull Pennant recently. The Bull Pennant refers to a technical analysis (TA) pattern that forms when an asset’s price succeeds a sharp upwards move with a period of consolidation between two converging trendlines. Related Reading: Solana Becomes The Talk Of Social Media As Price Hits $200 Bull Pennants are similar to Bull Flags, with the main difference being that flags involve parallel channels instead. Just like in the case of the Bull Flag, the initial uptrend forms the ‘pole,’ but the consolidation channel here is known as the ‘pennant.’ When the price is trading inside the pennant portion of the pattern, it’s likely to face resistance at the upper level and support at the lower one. An escape out of either of these levels might signal a breakout in that direction. Bull Pennants are considered to be continuation patterns, so a breakout may be assumed to be more probable in the bullish direction. That is, the asset can be more likely to surge above the resistance line. Like the Bull Pennant, there is also the Bear Pennant. This TA pattern works much in the same way, except for the fact that the pole is represented by a downwards move and that a bearish breakout is more likely. Now, here is the chart shared by the analyst that shows the pattern that the weekly price of XRP was trading inside until recently: As displayed in the above graph, the weekly price of XRP was earlier witnessing consolidation inside a Bull Pennant, but this month, the asset finally found a break as its price exited out of the pattern in a sharp manner. Usually, Bull Pennant breakouts are considered to be of the same length as the pole. Based on this, the analyst has drawn a potential breakout for the cryptocurrency in the chart. The target that it leads to is $15. Related Reading: Ethereum To $10,000? Analyst Says ETH Has To Break This Level If such a bull run does occur for XRP, then its price would have surged by a whopping 320%. It now remains to be seen whether the Bull Pennant would actually end up holding for the asset. XRP Price The altcoins have taken off recently and XRP has been no exception, as its price has reached the $3.56 mark after a rally of almost 22% over the last week. Featured image from Dall-E, charts from TradingView.com
In a chart shared by crypto analyst Ali Martinez, XRP has broken out of a descending channel commonly identified as a “bull flag,” signaling a potential continuation of its recent upward trend. The move sets the stage for a push toward $4.40, based on Fibonacci extension levels. XRP Price Eyes $4.40 According to the two‐hour Binance chart provided, XRP initially rallied from roughly $2.3374 on January 13 to a local high of $3.3509 by January 17, marking a swift rise that established the so‐called flagpole. After reaching this local high at $3.3509, the price shifted into a consolidation phase, moving within a downward‐sloping channel from January 17 through January 19 and briefly dipping below the 0.786 Fibonacci retracement level at $3.1021 before rebounding. The breakout above the channel’s upper boundary, which transpired around $3.20 on January 20, is seen as a classic confirmation of a bull flag. A bull flag pattern comprises two key segments: the rapid, nearly vertical ascent (flagpole) and the subsequent, more gradual consolidation (flag). When an asset’s price closes decisively above the upper trendline of the flag, traders generally interpret it as a signal that the prior uptrend is likely to resume. Related Reading: XRP Whale Binance Deposits Skyrocket: Key Holders Preparing For Profit-Taking? In this specific setup, the distance of the flagpole is measured from the swing low at $2.3374 to the swing high at $3.3509, which yields a gain of about $1.01. Analysts then add that distance to the breakout level near $3.20 to approximate a price target in the $4.20 region. Martinez’s chart, however, also includes Fibonacci extensions that provide more granular potential targets, anchored at 0% ($2.3374) and 1 ($3.3509). These extensions appear at 1.272 ($3.6958), 1.414 ($3.8889), 1.618 ($4.1863), and 1.786 ($4.4475). The analyst cites $4.40 as the primary bullish objective, aligning closely with the 1.786 extension level. Related Reading: XRP Breaks Out Of Bullish Flag Pattern – $4 Target In Sight As per Martinez’s chart, XRP traded near $3.29, hovering just below the local high at $3.3509. If the cryptocurrency can hold above the breakout zone and ultimately surpass $3.3509, the chart’s technicals suggest a potential climb toward successive extension levels in the high $3 range and ultimately toward $4.40. The significance of the $4.40 target lies in its convergence of Fibonacci analysis with the classic bull flag projected move, giving traders a clear upside marker to watch for continued momentum. While short‐term fluctuations are always possible in volatile crypto markets, the breakout from the flag consolidation has offered a notably bullish signal, contingent on XRP’s ability to maintain support around $3.20 and build enough volume to breach the $3.3509 threshold. Notably, XRP couldn’t defend the breakout. At press time, XRP fell back into the channel and traded at $3.06. Thus, XRP bulls need to step up one more time to revalidate the scenario. Featured image created with DALL.E, chart from TradingView.com
XRP has captured the crypto market’s attention with its impressive bullish performance, surging over 45% in just six days. The token’s rally reached a new milestone on Thursday as it broke its all-time high, solidifying its position as one of the top-performing assets in the market. With Monday’s inauguration of President-elect Donald Trump on the horizon, speculation about the potential impact of his administration on the crypto space is driving even more bullish sentiment for XRP. Related Reading: Donald Trump Memecoin Skyrockets Over 12,000% Overnight With $30B Fully Diluted Value – What Happened? Top analyst Ali Martinez recently shared a technical analysis highlighting the token’s strong price action. According to Martinez, XRP appears to have broken out of a bullish flag pattern, a technical indicator that often signals the continuation of an uptrend. Based on this pattern, the price could be gearing up for an upswing to $4, a significant level that would mark another major milestone in its ongoing rally. As XRP continues to outperform, investors are closely monitoring the token’s next moves, with many believing it could benefit from a more crypto-friendly environment under the incoming administration. With strong technical indicators and growing market optimism, XRP appears poised for further gains, making the coming days a pivotal moment for the asset. XRP Poised For A Massive Rally XRP has had a highly volatile week, with price action capturing the attention of the crypto market. After dropping to $2.32 earlier in the week, XRP staged an impressive recovery, surging to new all-time highs around $3.40. This marks a historic moment for the cryptocurrency, as it finally surpassed its previous all-time high set in 2018, breaking a seven-year record. The milestone has reignited enthusiasm among analysts and investors, who now see XRP as one of the hottest assets in the market. Market sentiment is overwhelmingly bullish, with many expecting XRP’s momentum to carry it even higher in the coming weeks. Martinez recently shared a technical analysis on X, revealing that XRP has broken out of a bullish flag pattern—a continuation indicator often associated with significant price surges. Based on this pattern, Martinez predicts that XRP could be gearing up for an upswing to $4, signaling another major milestone for the asset. Adding to the optimism is the broader macroeconomic environment, as President-elect Donald Trump is set to assume office on Monday. With expectations of a pro-crypto administration, many believe XRP and the broader market could benefit from favorable policies and heightened investor interest. Related Reading: Raydium Breaks Key Level Showing Relative Strength – New Highs Next? As XRP enters this pivotal phase, investors are closely monitoring its ability to sustain recent gains and build on its bullish trajectory. With technical indicators aligning and market optimism growing, the coming days could be transformative for XRP, setting the stage for even higher price levels in 2024. Price Discovery Phase: What To Expect XRP is currently trading at $3.20, following its recent surge to an all-time high (ATH) of $3.40. The price action remains extremely bullish, with strong momentum suggesting the potential for further gains in the coming days. Analysts and investors are optimistic that XRP could push above its newly set ATH, marking another milestone in its ongoing rally. Holding the $3.00 level is critical for sustaining this momentum. This psychological and technical support serves as a foundation for continued bullish sentiment. If XRP can consolidate above this mark, it would reinforce confidence among traders and signal the strength needed to attempt another breakout. However, the market remains highly volatile, and XRP is no exception. The rapid price movements seen in recent weeks highlight the potential for liquidity sweeps and aggressive corrections. Such volatility underscores the importance of risk management, as sudden pullbacks could occur before the next leg up. Related Reading: Bitcoin Reclaims Crucial Liquidity Level – No Resistance Left Below ATH As XRP navigates this pivotal phase, traders are watching closely for signs of sustained strength or potential reversals. If XRP maintains its momentum and holds key support levels, it could be poised to extend its bullish trajectory and achieve new highs in the near future. Featured image from Dall-E, chart from TradingView