Although the XRP race was in a downward spiral in recent weeks, analyst Ali Martinez remains optimistic about the future of the coin. In a recent X-post he states that XRP can rise to $ 15, based on an important technical breakthrough.
Braking hints on an explosive price rise
According to Ali Martinez, XRP has recently broken a symmetrical triangular pattern, a graph formation in which the course forms increasingly lower tops and higher soils. This pattern ultimately leads to an inevitable outbreak, up or down.
In the case of XRP, this pattern has been formed since 2018. If the current outbreak stands, according to Martinez, the coin can make a bull rally to $ 15, which would amount to an impressive increase of more than 540% compared to the current rate.
In addition, this would increase the market capitalization of XRP to no less than $ 870 billion. For comparison: Ethereum (ETH) currently has a market capitalization of $ 233 billion.
Although Martinez does not give an exact timeline for when XRP could reach this peak, a rapid increase in the short term seems unlikely. A market capitalization of $ 870 billion – about half of Bitcoin’s (BTC) current total value – would require an enormous intake of capital.
Market factors and influence of Ripple vs. Sec
In addition to technical analyzes, there are various factors that can influence the XRP race, such as market volatility, macro-economic developments and especially the current lawsuit between Ripple and the Securities and Exchange Commission (SEC).
This lawsuit in particular can play a crucial role in the future of XRP – and possibly faster than expected.
According to cryptookner Andrew Parish, the rumor mill is running at full speed. Insiders whisper that the case against Ripple is “almost round”. If this is true, that could be a game changer for XRP and the wider cryptomarket.
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Source: https://newsbit.nl/crypto-analist-xrp-kan-naar-15-stijgen-na-belangrijke-uitbraak/
