XRP's Imminent Rally: Analyst Predicts Short-Lived Surge

XRP, the native cryptocurrency of the Ripple network, has been making waves in the crypto market, with analysts predicting an imminent rally. Despite trading in a narrow range, XRP has shown accelerating price movements, catching the attention of on-chain experts like Ali Martinez.

In a recent technical analysis, Martinez indicated that XRP's latest rally would be short-lived. However, just a day later, he issued an X post explaining that XRP had now issued a buy signal. This signal was based on a TA tool known as TD Sequential, which analyzes an asset's historical performance to determine the strength of a trend and gauge if a reversal is imminent. The tool had provided mostly accurate signals for XRP in mid-February, with sell signs leading to price drops from approximately $2.61 to $2.52 and $2.71 to $2.65.

While Martinez did not provide insights into the expected upward move's magnitude, XRP's support and resistance levels on February 21 indicate that the cryptocurrency will likely halt near $2.74 and is almost guaranteed to end the rally before hitting $2.81. Given the likely resistance levels and the magnitude of recent moves, XRP is most likely to rally toward $2.72 from its press time price of $2.65.

Looking ahead to 2025, determining XRP's likely long-term performance appears more challenging. The token's surge following Donald Trump's re-election generated significant excitement, enabling the cryptocurrency to rocket to highs above $3.30. However, much of this excitement has since evaporated, as evidenced by XRP's confinement to an increasingly narrow range and relatively minor moves in recent trading.

Despite this, multiple traders and analysts continue to forecast strong long-term performance. Martinez, for example, estimated that XRP could go as high as $48 in the relatively near future while also opining that the token's breaking out of a multi-year symmetrical triangle in late 2024 indicates a move toward $15. The cryptocurrency's February performance does give some hope that a move greater than a handful of cents is incoming, with the year-to-date (YTD) chart gaining the appearance of a symmetrical triangle.

Still, there is no decisive confirmation of the trend nor a clear indication of the direction of the eventual breakout. X