XRP Breaks 66-Day Downtrend as Analysts Eye $1.30 Target

XRP broke above a 66-day descending trendline that had capped rallies since late May, delivering a technical breakout that market analyst Ash Crypto says signals bulls may be regaining control. The breakout ended a prolonged corrective phase as selling pressure weakened and market sentiment began to turn. Breaking a long-standing downtrend is a key bullish signal in cryptocurrency markets, often indicating that former resistance levels may become new support zones as trader positioning shifts.

Martinez Confirms Breakout Above $1.13, Sets $1.30 Target

Crypto analyst Ali Martinez confirmed the breakout after XRP closed above $1.13, a level Martinez had previously identified as critical resistance. Martinez stated that a decisive close above $1.13 would validate the bullish setup and pave the way for further gains. With XRP now trading above that threshold, Martinez set $1.30 as the next major upside target. CoinCodex data shows XRP trading at $1.15, up more than 5% over the past 24 hours, reflecting renewed investor confidence following the breakout.

Triple-Bottom Pattern Forms as XRP Holds Key Support Levels

Analysts are monitoring a developing triple-bottom pattern, a bullish reversal formation that emerges after an asset successfully defends the same support level three times. The pattern suggests bears are losing momentum while buyers steadily absorb selling pressure. A confirmed breakout from a triple-bottom often precedes a stronger upward move. Market participants are now watching whether XRP can continue holding above $1.13 as support and build enough momentum to challenge the $1.30 resistance level.

FAQ

What technical level did XRP break after 66 days?

XRP broke above a 66-day descending trendline that had capped every rally since late May, according to market analyst Ash Crypto.

What is Ali Martinez's next price target for XRP?

Ali Martinez set $1.30 as the next major upside target after XRP closed above the critical resistance level of $1.13.

What chart pattern is forming on XRP according to analysts?

Analysts are monitoring a developing triple-bottom pattern, a bullish reversal formation that suggests bears are losing momentum while buyers absorb selling pressure at the same support level three times.