Ali Martinez Says XRP Is Breaking Out, Here’s the Price Target

XRP is showing renewed strength after recovering from this month’s sharp decline. 

Analyst Ali Martinez believes the token is now in the middle of a bullish breakout that could drive prices higher in the near term.

In a post on X, Martinez noted that XRP had spent the past week consolidating within a symmetrical triangle pattern. The asset has now broken out of that formation, prompting the analyst to set a near-term target of $1.30.

At the time of his post, XRP was trading around $1.1784. Since then, the token has climbed to $1.24, a gain of roughly 5.2%. XRP is also up about 7.5% over the past seven days.

XRP Rebounds After Testing Key Support

The latest rally follows a period of intense selling pressure earlier this month. During the first week of June, XRP briefly fell to around $1.03. The drop brought the asset close to losing the psychologically important $1 level for the first time in eight months.

Since hitting that low, XRP has rebounded by about 25.24%, rising from $1.03 to $1.29. Even so, the token remains down roughly 32% year-to-date.

The recovery has helped revive bullish sentiment. Some traders now believe XRP may have formed a local bottom and could be preparing for another move higher.

Martinez Previously Flagged Sub-$1 XRP as a Buying Opportunity

Martinez’s latest outlook follows an earlier analysis he shared on June 8. At the time, he identified the $0.90 region as an attractive long-term buying zone if XRP experienced another correction.

He pointed to a monthly chart showing XRP still trading within a long-term bullish structure. The setup is supported by an ascending trendline that has held since the asset traded near $0.11.

Based on that structure, Martinez outlined several long-term targets, including $3.32, $8.50, and $13. He argued that XRP could remain on track for a major expansion phase as long as its long-term support stays intact.

Buy Signal Emerges, but Whale Activity Slows

On June 12, Martinez also highlighted a buy signal from the TD Sequential indicator on XRP’s three-day chart. The signal appeared after the asset fell 18%, dropping from around $1.33 to $1.03.

However, he warned that on-chain data was less encouraging. 

According to Martinez, the number of XRP transactions worth more than $1 million fell by over 57% in nine days, declining from 157 to 67. Data from Santiment also showed that whales sold approximately 60 million XRP during the same period.

The decline in whale activity suggests that large investors may be waiting for clearer market direction.

Meanwhile, traders are watching to see whether XRP price can sustain its breakout momentum. A move to Martinez’s $1.30 target would represent an additional gain of nearly 5% from current levels.