XRP On Verge of 10% Sharp Price Spike: Analyst

XRP continues to print bullish signals as momentum begins to shift in favor of the leading cryptocurrency, positioning its price for a big upsurge.

As the broad crypto market begins to show signs of a major recovery, XRP has gained the spotlight amid bullish predictions from market analysts.

XRP to hit $1.60?

Popular crypto analyst Ali Martinez has just shared data, pointing to a tightening triangle pattern on the XRP hourly chart, which signals a further upside move for the asset.

According to Martinez, the pattern printed on the chart could trigger a sharp 10% price move for XRP in the near future.

The analyst spotlighted XRP preparing for a decisive breakout as its price is seen hovering around the $1.42 and $1.43 mark, with immediate resistance levels seen near $1.44 and $1.45.

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Nonetheless, the chart further showed that support is holding around $1.41, with a stronger base forming closer to $1.39.

With the projected pattern, the analyst believes that a move beyond either boundary could put XRP on the verge of a sharp 10% price swing. 

As of the time of writing, XRP is trading around $1.43 with a brief surge of about 0.37%. This means that the potential 10% surge could propel the asset to trade near $1.60 soon.

XRP community not surprised

The bullish price prediction for XRP did not come as a surprise to the XRP community as many claimed that the asset is obviously set for a big price move which could even see it surge beyond 10%.

Other XRP traders claimed that such a technical setup is merely a routine signal and it requires confirmation with strong trading volume rather than being reactive.