Analyst Ali Martinez says XRP has formed a massive ascending triangle on its monthly chart, with a close above $3.66 activating a technical target near $60. The token is still up 40% from its recent multi-year lows even after a rejection at $1.70 weeks ago, but reaching $60 would require a near-4,200% surge and push XRP's market cap toward $4 trillion.
Ripple's cross-border token remains 40% above the multi-year lows it marked less than a month ago, even after bulls failed to hold $1.70 following its mid-August surge. That resilience has pushed several analysts toward increasingly bullish calls, but one price target in particular has caught the crypto community's attention.
A new chart pattern points to $60
Analyst Ali Martinez had already flagged a breakout once before, setting a target of $1.70 after XRP surged 70% in under 72 hours to reach that level on August 21-22. XRP was then violently rejected at $1.70 and fell to under $1.35 last week. Since then, it has rebounded to around $1.40, and that stabilization renewed Martinez's conviction that the token has bottomed out for this cycle.
In a post shared with his 166,000 followers, Martinez said XRP has been "forming a massive ascending triangle on the monthly chart". A monthly close above the $3.66 resistance level would confirm the breakout and activate a technical target near $60, according to the analyst.
What a $60 XRP would actually mean
Reaching $60 would require a nearly 4,200% surge from current levels, even if it takes another 10 years. At that price, and assuming XRP's supply remains the same, which it won't, the token's market cap would sit at around $4 trillion. That would make it two to three times bigger than Bitcoin's current market cap, with a valuation exceeding corporate giants like Amazon and Microsoft.
Source: CryptoPotato
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