Despite repeated setbacks in recent months, analysts remain optimistic about a significant breakout for the cross-border token XRP.
Analyst Predicts Imminent Volatility
Ali Martinez, a prominent analyst with over 165,000 followers on X, is the latest to express this positive outlook. He bases his assessment on the tightening Bollinger Bands, noting what he calls “the tightest Bollinger Band squeeze on the XRP 3-day chart in over a year.” XRP has been trading within a narrow range between $1.30 and $1.50 for months, with only a few brief deviations.
Martinez stated that such tight compression of volatility often signals an impending “violent price expansion.” He views the current trading range as a “no-trade zone,” advising traders to await market confirmation of a breakout. XRP has attempted several bullish breakouts in recent weeks, even reaching $1.55 last week, but each attempt has been thwarted.
“I’m waiting for a clean 3-day candlestick close outside of this range ($1.50-$1.29) to confirm the next major trend direction,” Martinez said. A close above $1.50 would signal an “expansion toward my primary target at $1.80.” Conversely, a drop below $1.29 would “invalidate the immediate bullish structure and open the door for a deeper correction back toward the $1.00 psychological support.”
Previously, Martinez noted that the SuperTrend indicator had also issued a buy signal for the first time since January.
Other Analysts Weigh In
Fellow analyst CW observed that “upward pressure on XRP is increasing again” after the recent rejection showed weak downward pressure. CW, like others, has repeatedly suggested in recent weeks that a bullish breakout is imminent due to a lack of selling pressure.
MikybullCrypto and CRYPTOWZRD have also joined the growing number of analysts anticipating a breakout attempt, with MikybullCrypto predicting a “boom” and CRYPTOWZRD acknowledging the risk of a price decline.
Whale Activity
A recent report indicates that Ripple whales have increased their holdings, currently controlling almost 70% of the asset’s total supply.
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