XRP Price Prediction: Can the Altcoin Reclaim the $3 Price Level in Its Next Upward Move?

The cryptocurrency market continues to experience heightened volatility, yet XRP remains a beacon of stability among large-cap assets.

The cryptocurrency market continues to experience heightened volatility, yet XRP remains a beacon of stability among large-cap assets. While Bitcoin and Ethereum have seen fluctuations over the past week, altcoin has demonstrated remarkable resilience.

Its price has been trading within a relatively tight range, fueling speculation that a major breakout is imminent. The key question now is: Can XRP reclaim the $3 price level in its next upward move?

XRP’s Bullish Setup: A Symmetrical Triangle Formation

On March 7, renowned crypto analyst Ali Martinez shared an insightful analysis on X (formerly Twitter), highlighting a potential bullish breakout for XRP.

According to Martinez, XRP is currently forming a symmetrical triangle pattern, which could result in a 23% price surge if it breaks to the upside.

A symmetrical triangle is a technical pattern characterized by two converging trendlines—one descending (connecting lower highs) and one ascending (connecting higher lows). This pattern typically indicates price consolidation before a decisive breakout.

When the price moves within this formation, it gradually narrows toward the triangle’s apex, suggesting an imminent breakout.

In most cases, symmetrical triangles serve as continuation patterns, meaning the asset will likely continue its previous trend once it exits the formation. Given XRP’s recent bullish trend, this pattern suggests a strong probability of an upward breakout, potentially propelling the token beyond the $3 mark.

Technical Analysis: Key Levels to Watch

At the time of writing, XRP is trading at $2.47, reflecting a 5% decline over the past 24 hours. However, on the weekly timeframe, the altcoin has recorded an impressive 15% gain, reinforcing its strength compared to other major cryptocurrencies.

To confirm a bullish breakout from the symmetrical triangle, traders are closely watching for two consecutive daily candlestick closes above the upper trendline. If this happens, the next major resistance level is around $2.80–$3.00.

Key levels to monitor:

If XRP breaches the resistance zone and maintains momentum, it could push towards new multi-year highs.

Fundamental Catalysts for XRP’s Bullish Momentum

Beyond technical patterns, several fundamental factors support a potential XRP price breakout:

1. Institutional Interest and Adoption

XRP has been gaining traction among institutional investors, thanks to its use case in cross-border payments. Ripple’s partnerships with financial institutions worldwide continue to bolster confidence in the asset’s long-term potential.

2. Ongoing Ripple vs. SEC Case Developments

The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) remains a crucial factor in XRP’s price movement. With a partial victory in July 2023, where a U.S. court ruled that XRP sales on public exchanges did not constitute securities transactions, the altcoin has seen renewed investor confidence. Any further positive legal developments could act as a strong catalyst for XRP’s next leg up.

3. Growing Utility in Real-World Transactions

XRP’s utility as a fast and cost-efficient payment solution has led to increased adoption among businesses and financial entities.

With blockchain technology becoming more mainstream, XRP’s role in facilitating international transactions positions it as a valuable asset in the evolving financial landscape.

What’s Next for XRP?

If XRP successfully breaks out of its symmetrical triangle pattern, it could confirm the 23% price increase predicted by Ali Martinez, potentially pushing its price above the $3 mark. However, traders must exercise caution and wait for confirmation before making high-risk moves.

With bullish technical indicators, strong institutional backing, and increasing adoption, XRP appears poised for a significant upward move. If the token breaches resistance and sustains momentum, it may open the door for new all-time highs in the near future.