After dropping to less than $2 last March 11th, Ripple’s XRP springs back to life and it’s currently trading between $2.30 and $2.40. And with the US Securities and Exchange Commission vs Ripple case nearing its resolution, the market can expect more price volatility for this digital asset.

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Within this context, market analyst Ali Martinez boldly claims that Ripple’s native coin still have the legs to hit a two-digit figure this cycle, using an extensive symmetrical triangle formation as a solid basis. 

Martinez’s view runs opposite the bearish statements from other commentators. XRP has been on a slide lately, affected by the broader crypto fall, dipping by around 25% from its $3.40 high achieved mid-January.

XRP Gradually Builds Its Symmetrical Triangle

Like most cryptos, XRP continues to have a highly volatile market performance. The token attempted a recovery early this month but met resistance, leading to a steep decline on March 11th. Interestingly, a few commentators remain bullish on the altcoin, including Martinez, who sees the token on track to reach $15.

This is why $XRP can still reach $15! pic.twitter.com/vkIiR0rnpU

— Ali (@ali_charts) March 14, 2025

In his latest commentary, shared via a Twitter/X posting, Martinez highlighted the seven-year symmetrical triangle formed by this asset, which dates back to January 2018, when it dropped from its $3.80 high.

Even before Martinez shared this observation, several commentators reported the triangle’s formation, suggesting that a breakout could lead to a price run.

The Ascending Trendline

According to Martinez, XRP formed its lower highs in January 2018, extending the descending trendline on top. As the crypto witnessed higher lows during this time frame, it extended its ascending trendline below, creating a symmetrical triangle.

Interestingly, XRP exited the symmetrical triangle structure following the November US elections. Ripple’s native token surged by 280% for the month, marking the biggest 30-day increase for the asset in seven years.

Along with surprising traders, this breakout inspired fresh hope among XRP enthusiasts. While some experts noted that past breakouts do not automatically ensure continuous rallies, many saw this spike as evidence of possible long-term strength.

Still, the dramatic price fluctuation sparked conversations on XRP’s future, particularly in light of further government changes and more general market movements.

Ripple’s XRP is currently trading at $2.37, which is 2% up in the last seven days. 

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XRP Currently Retesting A Breakout

After two months of upside, Ripple’s XRP is on a downturn, reflecting the broader crypto market sentiment. According to Martinez, XRP’s price is currently retesting the triangle chart breakout. He also suggested that even if XRP slips below $2, it’s still on track for a breakout, as long as it stays above $1. Armed with the charts, Martinez believes that XRP hitting $15 is not a far-out idea. 

Featured image from StormGain, chart from TradingView

Ripple’s XRP, one of the top-performing cryptos last year, is trading between $2.15 and $2.30. The token’s current price is a far cry from its 52-week high of $3.38 last January 17th, which was spurred by the industry’s excitement over US President Donald Trump’s reelection. 

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Although XRP joins the downtrend of the broader crypto market, a few commentators and analysts expect that Ripple is due for a major rally. According to crypto analyst Egrag Crypto, Ripple’s XRP is set for another price run after it compares the asset’s current Elliot Wave structure with its 2017 fractals.

XRP Continues To Weather The Storm

Egrag Crypto’s latest price analysis and projection for XRP come as the altcoin and the broader crypto market slump. The Ripple’s coin is holding steady above the critical $2 price support, which suggests it follows the broad five-wave Elliott Wave chart. Traditionally, assets replicating the Elliott Wave structure often incur significant price action.

#XRP = Thread (1/7) #XRP: Double Digits This Cycle, Triple Digits Next!

The thread below about #XRP was shared in the Subscribers section on February 12, 2025.

We’ve built together the Full Elliot Wave Count to assess our next Targets:

Take an in-depth look at it! … pic.twitter.com/NKv00Y5MZD

— EGRAG CRYPTO (@egragcrypto) March 12, 2025

Based on Egrag’s assessment, XRP is currently in the second wave of the Elliot Wave structure, which is traditionally defined by high price volatility and corrections.

Traders And Investors Must Watch Out For The Larger Wave Structure

In a Twitter/X post, Egrag explained that XRP is in its corrective wave two and is primed for a price run to double digits or even over $100.

The analysts elaborated that a Wave 2 often retraces a part of Wave 1, usually matching 50%, 76% or even 85.4% of the initial movement. Ripple’s XRP, he shares, is solidifying its hold in the correction phase.

The asset faces bearish pressure, and the market can expect a double bottom soon before it moves into its Wave 3. EGRAG warns that Wave 3 is the most aggressive part of the cycle, with more volatility.

Can XRP Hit $100 Or More?

Previously, XRP’s Wave 1 pattern submitted a huge 733% increase in price. And by using the Elliot Wave extension formula, the popular analyst projects that XRP’s Wave 3 can extend by 1.618x the gain of the first wave. Using this calculation, Egrag offers a potential surge of 1,185x, translating to XRP’s price range between $22 to $24.

Once XRP hits the peak of Wave 3, the fourth wave and a price correction follows. For this wage, the retracement level ranges between 14% to 38.2% of Wave 3. If this happens, Egrag predicts that XRP’s price can drop to $8.

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Wave 5 of the Elliot Wave follows, where price can be predicted using three methods. First, if XRP’s price grows between 1.236% and 1.618%, the asset’s price can hit between $32 and $48. Second, if Wave 5 replicates Wave 1, the price can be between $60 and $70. Third, if there’s a 61.8% extension of the movements of Waves 1 and 3, then there’s a chance that XRP’s price can hit $100.

Featured image from Medium, chart from TradingView