XRP’s Breakout Rally Has Begun, Analysts Say – But Their Targets Will Shock You

Although it was rejected at $1.70 a couple of weeks ago after its major mid-August surge, Ripple’s cross-border token is still up by 40% from its multi-year lows marked less than a month ago.

This has turned numerous analysts highly bullish. While this sounds quite expected for market observers like EGRAG CRYPTO, Ali Martinez’s recent price target is what got the community going.

XRP to $60!?

Martinez has recently been quite convinced that Ripple’s native token has already bottomed out during this cycle and is on its path to recovery. In a previous post, he noted that XRP’s breakout is confirmed and outlined a more modest target of $1.70. This one came actually after the asset reached that level on August 21-22, following its 70% surge in less than 72 hours.

However, it was violently rejected there and pushed south to under $1.35 last week. Its ability to maintain that level and the subsequent rebound to the current $1.40 gave bulls more hope, and Martinez joined the party.

In a post from earlier today, the analyst told his 166,000 followers that XRP has been “forming a massive ascending triangle on the monthly chart.” If it breaks above and closes north of the key barrier at $3.66, then it would “confirm the breakout and activate a technical target near $60.” Yes, that’s $60 per XRP.

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