Popular crypto analyst Ali Martinez, popular altcoin XRP He is of the opinion that if the price manages to close above a critical level, it may experience a significant increase.
Ali Martinezhas identified a pattern that could push the price up 47% to $0.80 if XRP solidifies a three-day candlestick close above $0.54. If the altcoin manages to break past the $0.54 resistance, it could trigger a significant spike in buying activity and potentially push the price to reach new local highs.
The altcoin, which has been performing quite well in recent months, has increased by over 53% since the beginning of 2023. In addition to the solid foundation of the token, the fact that it continues to attract the attention of investors can be considered as one of the reasons for this rise.
XRP has been trading in a narrow price range for the past few weeks, hovering around $0.50. Cryptocurrency The recent “bulk”, with the market showing no signs of slowing down, has triggered many traders and analysts to share predictions of a potential rise.
With this, RippleIts future remains uncertain, and many factors influence its price, including legal disputes and market volatility. The SEC’s lawsuit against Ripple, for example, has yet to be resolved, but a resolution is expected as early as the first half of 2023 by many, including the crypto company’s CEO, Brad Garlinghouse.
It should be noted that whether these expectations will be met is an even more influential factor that can help or hinder XRP’s price action more than the presence of a lawsuit.
You can follow the current price action here.