XRP Might Have Retraced Sharply in Recent Days, but One Influential Analyst Predicted Massive Upsides for the Cryptocurrency in 2025

Ali Martinez, a well-known chartist, observed a "promising setup" for XRP, prompting him to set a price target of $11.

Influential crypto analyst predicts massive XRP upsides for 2025

Influential crypto analyst predicts massive XRP upsides for 2025. XRP might have retraced sharply in recent days, but one influential analyst on Monday predicted massive upsides for the payment-focused cryptocurrency in 2025.

What Happened: XRP, the native token of the XRP Ledger, has been rallying in 2024, outperforming several other major coins. Now, as the year comes to a close, one influential analyst is predicting a bright future for XRP in 2025.

Ali Martinez, a well-known chartist, observed a "promising setup" for XRP, prompting him to set a price target of $11 for the cryptocurrency.

"One promising setup I'm watching for 2025 is $XRP forming a falling wedge on the lower timeframe," said Martinez, referring to XRP’s 4-hour chart.

"If it continues forming & breaks out, we could see a massive wave up. Keep an eye on it."

Chart showing falling wedge on 4-hour XRP price chart. Ali Martinez/Twitter

If the projections turn out to be accurate, it would imply a 450% increase, or more than a fivefold jump, from XRP's current market price.

The projections come after XRP price retraced sharply from highs above $2.20 observed last week. At the time of writing, XRP was seen trading at $2.01, down 3.1% over 24 hours and boasting a market capitalization of about $94 billion.

Chart showing XRP price movements in 2024. Benzinga Pro

Martinez also observed the converging Bollinger Bands on XRP's daily chart, indicating a sharp price movement could be on the cards.

"The Bollinger Bands are squeezing on the $XRP daily chart, indicating a big price movement is underway!" noted the analyst.

Bollinger Bands converging on XRP daily price chart. Ali Martinez/Twitter

Another widely followed analyst, Javon Marks, joined the bullish optimism, drawing comparisons to the 2017 bull market.

"XRP’s Current 3 Day Timeframe is currently looking extremely similar to that 2017 Run even more so and prices right now may only be getting ready to come out of an ‘Intermission Phase’ before yet another ‘groundbreaking' bullish rally," remarked Marks.

"It may be time to strap in…"

Marks comparing XRP's 3-day chart to 2017 price movements. Javon Marks/Twitter

Marks has been bullish on XRP for a while now. Earlier this year, he predicted that XRP could rally another 200% to $4 if it manages to break out of a key resistance level.

See Also: ‘Pharma Bro’ Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor

Why It Matters: A handful of other technicals supported XRP's rally in the days ahead. The popular Bull Bear Power indicator, used for measuring the strength of buyers and sellers in the market, flashed a "Buy" signal, according to TradingView.

The Commodity Channel Index, which measures the difference between the current price and the historical average price, also signaled "Buy" for the fourth-largest cryptocurrency.

However, the Relative Strength Index was still "Neutral," suggesting balance between bullish and bearish market forces.

TradingView showing technicals for XRP, including Bull Bear Power, Commodity Channel Index and Relative Strength Index. TradingView

A bullish setup on the 4-hour chart and converging Bollinger Bands on the daily chart could both be hinting at further upsides for XRP in the coming days.

The promising technical setups come as XRP price retraced sharply from 2024 highs, which were observed last week. Now, as the year comes to a close, several analysts appear to be predicting a bright future for XRP in 2025.

Chart showing XRP price movements in 2024. Benzinga Pro

Price Action: At the time of writing, XRP was exchanging hands at $2.02, down 2.92% in the last 24 hours, according to data from Benzinga Pro. The coin has been one of the biggest gainers of 2024, surging 227% year-to-date.

Image via Shutterstock