As XRP anticipates a potential rally toward key short-term resistance levels, the analyst has set a bullish target for the cryptocurrency’s long-term performance, suggesting the altcoin could rise more than 1,300% in the next bull run.
XRP Targets $48 in Future Bull Run
On Friday, XRP joined the broader market recovery, experiencing a 3.5% gain to reach a weekly high of $1.45. Over the past month, the cryptocurrency has fluctuated between $1.20 and $1.50, hovering above the upper area of this range.
In the midst of this, analyst Ali Martinez shared a bold prediction for the price of XRP during the bull period, hinting that a massive rally could emerge in the coming years based on a multi-year pattern.
According to the chart, the altcoin has been forming an ascending triangle pattern on the monthly chart since 2018, when it reached its all-time high (ATH) of nearly 1,500% in two months.
For the past eight years, XRP has traded between the $3.30 horizontal resistance and the uptrend line, which marks the bottom and top of each rally over the past two periods.
The analyst suggested that the altcoin could move within this pattern until the next bull run, potentially rising 1,350% to a target of $48 after breaking multi-year resistance.
Similarly, market watcher Chard Nerd shared a macro chart of XRP, but instead highlighted a possible test of resistance support. He noted that the cryptocurrency broke out of a multi-year symmetrical triangle when the price broke above its eight-year resistance during the Q4 2024 market rally.
According to the release, XRP may test the pattern necklace, which is currently around $0.70-$0.80, as support in the coming months before starting a recovery from the bear market lows.
Will the March-April rally be on foot?
In a video analysis on Friday, Chart Nerd also shared XRP’s short-term outlook, highlighting its attempt to break out of the one-month symmetrical triangle on the daily chart after today’s pump.
As he explained, the altcoin’s price has been squeezed between key resistance levels and key rising support levels for the past five weeks, which could target a 25% rally over the next few weeks as it approaches its tighter peak range.
Apex has a date (…) that we expect at the end of March, March 25, where XRP could, if it rejects this level of $1.42-$1.43, (…) really tighten and squeeze into a corner to make a decision.
The analyst suggested that the upper boundary of the pattern throughout February was a key resistance level that could pressure XRP price “towards this late March peak” before choosing its next direction.
If XRP breaks above this peak and recovers the horizontal resistance of $1.50, it will confirm a move to the $1.80-$2.00 zone, which he previously called a “critical point”, in late March or early April.
