This Textbook XRP Chart Pattern Could Trigger Rally Toward $60, Analyst Asserts

XRP traded largely sideways on Saturday, hovering near $1.42, as the token consolidates after a volatile stretch that has left it roughly 4% higher over the past seven days.

Notably, the muted price action follows a sharp pullback earlier last week that triggered widespread liquidations, even as several analysts argue the broader chart structure still points toward a much larger move.

According to analyst Ali Martinez, XRP has spent nearly nine years forming a massive ascending triangle on its monthly chart, with $3.66 as the critical resistance level.

The analyst said a confirmed monthly close above that level would confirm the breakout and unlock a longer-term technical target near $60, a figure that would represent a major move from current prices.

Additionally, analyst Egrag Crypto has been revisiting XRP’s historical macro expansions to assess what a new cycle might look like. Looking at three previous major rallies, gains of roughly 2,405%, 1,002%, and 1,250%, the pundit calculated both the arithmetic average and the geometric mean of those gains, landing on figures of about 1,552% and 1,444%, respectively. 

Egrag Crypto noted that the geometric mean, which accounts for compounding rather than simple averaging, is the more reliable gauge of what a genuine multiplicative rally would look like.

Meanwhile, analyst Javon Marks pointed to more immediate price action, flagging a breakout above a long-term descending trendline, which was followed by a rapid climb of nearly 55%.

The analyst argued that with the pattern still holding, the token could be ready for another move higher, potentially a further 140% move toward the $3.50 region.

He further framed that level as just the opening stage of a larger move, with longer-term targets set at $15 and beyond.

That said, this optimism comes against a mixed backdrop in the ETF market. According to data from Sosovalue, spot XRP ETFs recorded their eighth consecutive week of net inflows, attracting nearly $19 million last week, although that was a notable slowdown from the previous week.

A midweek outflow also ended a nearly month-long streak of daily inflows, while Friday recorded zero flows for the first time in about three weeks. The weaker activity has raised fresh questions about the strength of investor demand, even as cumulative inflows have surpassed $1.48 billion.

At press time, XRP was trading at $1.36, down 2.52% over the past 24 hours.