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

A widely followed crypto analyst and trader is warning that an altcoin market bounce may end up being short-lived.

In a new post, pseudonymous crypto trader Altcoin Sherpa tells his 243,900 followers on the social media platform X that alts may give up gains after bouncing based on historical precedence.

He also says Bitcoin (BTC) may soon flip $84,000 into support and that the flagship crypto asset could maintain bullish momentum by breaking through the $89,000 level.

“BTC looks like $84,000 is the first test that is going to break (to the upside) and we’re ok in that department. $89,000 would be my next level of interest overall. Alts looking like they’ll give a temporary bounce but not sure how strong (yet). Be on guard.”

Looking at his chart, the analyst suggests that if Bitcoin can regain $98,703 as support, the flagship crypto asset may print new all-time highs.

However, he warns if $78,167 breaks down as support, Bitcoin may plummet into the $60,000 range.

Bitcoin is trading for $84,154 at time of writing, up 4.6% in the last 24 hours.

The analyst also warns that altcoins like the dogwifhat (WIF) memecoin may struggle for a long time to ever regain higher price targets if Bitcoin turns bearish.

“It’s a lot more concerning for sh**coins this go around because BTC might actually be dead for a bit. In the previous drawdown, we had a lot more hope because we assumed BTC still had more upside. If BTC dies to $50,000 or w/e (whatever), these aren’t coming back for a very long time. See WIF.”

WIF is trading for $0.50 at time of writing, up 9.7% in the last 24 hours.

He adds that altcoins may bounce even as they continue to print a bearish lower-high price structure.

“As much as everything is dead and we’re truly in a bear market for altcoins, it’s important to remember that a bounce will come and alts can still do a few x from current levels. Markets don’t move in a straight line down. Bounce coming within the next one to two months in my opinion.”

He shares the two-day chart of Ethereum (ETH) to illustrate the historical precedence of an altcoin bouncing amid a larger downtrend.

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