Crypto analyst Ali Martinez has presented a detailed technical analysis for XRP, outlining a key price setup as the asset trades within a defined descending triangle pattern. The analysis, published alongside a 1-hour chart, highlights that XRP’s movement has been restricted between a declining upper trendline and a stable lower support in the $1.31 to $1.35 range.
Descending triangle defines near-term outlook
Martinez points out that XRP’s upper resistance level has shifted lower since late August, after the cryptocurrency registered a breakout to $1.68. Each successive recovery attempt has encountered selling pressure at increasingly lower points, while buyers have repeatedly supported prices along the flat lower boundary.
The asset now approaches the triangle’s apex, described as the point where the descending upper line meets the persistent support zone. Technical breaks from this area tend to direct the next major price movement, either up or down. At the time of writing, XRP trades near $1.34 on the referenced chart.
Martinez includes Fibonacci retracement levels as indicators of potential resistance for upward moves, listing 0.236 at $1.3998, 0.382 at $1.4492, 0.5 at $1.4900, 0.618 at $1.5308, and 0.786 at $1.5868.
| Fibonacci Level | Price |
|---|---|
| 0.236 | $1.3998 |
| 0.382 | $1.4492 |
| 0.5 | $1.4900 |
| 0.618 | $1.5308 |
| 0.786 | $1.5868 |
Mini dictionary: Descending triangle, a bearish chart pattern in technical analysis characterized by a series of lower highs with a flat support base, often leading to a breakout as price approaches the convergence point.
As long as XRP maintains the $1.31–$1.35 support range, attention is focused on whether the price will advance toward the triangle’s apex. Key confirmation for a breakout is expected at $1.38, and a decisive move above that could prompt a rally toward $1.60.
$1.38 as pivotal resistance for a breakout
Martinez identifies $1.38 as the pivotal resistance level. He notes that a break above this level is critical to confirm a bullish breakout from the practiced pattern. Without price crossing this barrier, any upward moves could prove temporary or indecisive.
He emphasizes that maintaining support between $1.31 and $1.35 remains crucial for bulls. This area has repeatedly attracted buyers during periods of selling pressure, as seen in the latest rebound from near $1.31. Multiple analysts now suggest that a breakout move could develop from current levels if support continues to hold.
A decisive move above the $1.38 resistance level may act as the catalyst for a full breakout, potentially opening the way to higher price targets on the chart.
Potential rally target at $1.60
If confirmed, Martinez sets a projected target for the bullish move at $1.60. This figure nearly matches the 0.786 Fibonacci retracement at $1.5868, while $1.60 also takes on psychological significance as a round number. The hypothetical move would see XRP clearing each Fibonacci resistance in sequence.
The chart-based projection features a path moving from the apex of the triangle, through the 0.236, 0.382, 0.5, and 0.618 Fibonacci zones, before reaching the vicinity of $1.60.
