Ali Martinez: If it surpasses 3.26 USD, XRP could soar straight up to 3.90 USD

One of the famous cryptocurrency analysts, Ali Martinez (@ali_charts), who accurately predicted the price movements of XRP during the conclusion of the lawsuit between Ripple and the Securities and Exchange Commission (SEC), has recently made another bold statement about this digital currency.

XRP is Forming a Symmetrical Triangle Pattern According to the price chart shared by Martinez on August 15, XRP is currently forming a symmetrical triangle. This is a type of technical pattern that often appears when the price enters a consolidation phase, with subsequent peaks gradually getting lower and subsequent troughs gradually getting higher. When the two trend lines converge, the price often has the potential to break out strongly in one direction. On the chart, XRP is recorded at a level of 3.10 USD. The dotted trend lines indicate that the accumulation process will continue until the end of August. Martinez stated that if XRP can break the resistance level of 3.26 USD, this cryptocurrency is likely to surge and move towards 3.90 USD right in the first week of September. Opportunity for a New Peak After 7 Years Currently, XRP is the third largest cryptocurrency in the market with a market capitalization of over 184 billion USD. This coin once reached a historic peak of 3.84 USD on January 4, 2018. If Martinez's prediction is accurate, XRP will officially set a new record at 3.90 USD, marking an important milestone after more than 7 years of waiting. Legal Progress Between Ripple and SEC Also on August 15, attorney James Filan stated that the SEC has sent a notice to the court, reiterating that the joint appeal agreement between the agency and Ripple to withdraw the appeal is still pending. This information indicates that the high-profile legal case is not completely closed yet, but the process has shown more positive signals. The Market Needs a 25% Breakthrough At the time of the analysis, XRP was trading at $3.09. Thus, to reach the target of $3.90, the price of XRP needs to increase by about 25% in the short term. With the evolving technical patterns and legal context, many investors are anticipating a strong breakout that could lead XRP into a new growth cycle.