XRP has stirred the cryptocurrency community recently, recording over 80% growth since the end of June. This breakout not only pushed XRP beyond key technical patterns but also rekindled confidence in a strong bullish cycle – with the potential target set at $15, according to renowned analyst Ali Martinez.
Breaking Out of the "Bullish Flag" Pattern, XRP Prepares to Enter a New Growth Area
According to technical analysis on the weekly chart, XRP has just officially broken the "bullish flag" pattern – a structure that often signals a continuation of strong upward trends. This breakout opens up the possibility for a parabolic growth phase, and the $15 price is no longer a distant prospect considering the current chart structure.
Notably, news about the approval of the ProShares Ultra XRP ETF has also contributed to reinforcing this forecast, making the $15 scenario more reasonable than pure speculation.
Strong Support from the Historical Peak of $3.40 – $3.66
On the daily chart, XRP has just strongly bounced from the important support area at $3.40 – which was the historical peak from the previous bull cycle. The positive price reaction at this level indicates that buying pressure is gradually gaining dominance and further reinforces the argument that XRP is in the early stages of a new bullish cycle.
The next resistance level at $3.66 is currently the key point the market is closely watching. If XRP clearly surpasses this level, the process of "price discovery" will begin again.
Elliott Wave: XRP Is In "Wave 1", $15 Target In Sight?
An interesting perspective from experts compares XRP's current cycle to 2017, when the price of this coin experienced three distinct bullish waves. Accordingly, we are currently in "Wave 1" – the accumulation phase and foundation building around the old peak of $3.40–$3.66.
"Wave 2" – the real bullish wave – only begins if XRP successfully breaks the $3.66 level. At that point, the price could enter an expanding growth zone, with few technical barriers, pushing XRP further towards the $15 target.
Bullish Sentiment and Support from Institutions
It is noteworthy that: the current technical factors are converging with the overall market sentiment. Institutional interest in XRP is clearly on the rise. If Bitcoin continues to hit new highs, XRP will benefit from this bullish wave.
The support level around $3.40 is holding strong, and many technical signals suggest that buyers are taking control. Once the $3.66 level is decisively broken, not only will Wave 2 be triggered, but the long-term target of $15 will also have a more solid foundation.
Conclusion: Is XRP Making History?
With strong upward momentum, clear chart structure, institutional investor interest, and optimism from experts like Ali Martinez, XRP is facing a significant opportunity to enter an unprecedented growth cycle.
The market is closely monitoring XRP's reaction at the $3.66 level. A breakout here could open a new chapter, where the $15 price is no longer a dream, but a completely feasible pathway.
