Here’s Why This Analyst Believes XRP is Now Setting Its Sights on $15

XRP has successfully broken above an extensive resistance channel, according to market veteran Ali Martinez, now eyeing a double-digit target.

Martinez’s commentary comes on the back of the latest market-wide rally, which pushed XRP above the $3 psychological mark to a new yearly peak within a week. Notably, XRP has leveraged this uptrend to record an impressive 56% gain in July.

XRP Forms Bullish Structure

Meanwhile, Martinez suggests that the bullish run allowed XRP to break above a key resistance channel it had traded within for months.

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For XRP, this initial strong price increase occurred during the November 2024 upsurge. Specifically, after trading around $0.5 to $0.6 for years, XRP rallied in early November 2024 immediately after President Donald Trump won his re-election bid, surging 580% to a seven-year peak of $3.4 in January 2025 before facing resistance.

This initial upward push formed the flagpole of the structure, as highlighted by Martinez in his weekly chart. However, after reaching the $3.4 roadblock, XRP pulled back and entered a consolidation phase from mid-January. The consolidation phase lasted for six months and led to the formation of the flag itself.

A Decisive Breakout

During this period, XRP ranged between the $2 and $3 psychological marks, with occasional dips and upswings outside this range. However, a decisive breakout occurred earlier this month, and XRP appears to have secured its future beyond this pattern.

However, when such breakouts occur, the market often triggers another pullback to retest the breakout and establish a solid support base at the upper trendline before the next leg up. In this case, XRP could retest the upper trendline around the $2.4 to $2.5 range. After this, another massive upsurge could ensue.

Martinez expects this upsurge to lead to new all-time highs for XRP in the double-digit price range. According to the analyst, XRP now sets its sights on the $15 price mark, which represents a 328% increase from the current price of $3.25. Also, this $15 target marks a 525% rise from the breakout price of around $2.4.

XRP First Targeting $4

Meanwhile, Crypto analyst Dom pointed out that about 29 million XRP in sell orders sat between the breakout price and $3.50 on Binance and Coinbase. 

Notably, these sell walls lined up almost exactly with XRP’s all-time high, which he called the “final boss” standing in the way of real price discovery after nearly a decade of choppy price action.

Dom noted that the push to $3.25 drew strong trading activity across major platforms, with Binance and Upbit leading the charge. However, he also warned that the next move won’t come easily. 

He said it was roughly three times tougher to move XRP from $3.25 to $3.50 than it was to move from $3 to $3.25. Interestingly, XRP has since broken above this large supply wall. At the time of his analysis, Dom suggested that when this happens, a run to $4 could be the immediate target.