An analyst has highlighted a potential 10% move for XRP based on a technical pattern observed in its 15-minute price chart. According to a recent post on X by analyst Ali Martinez, XRP has been trading within a symmetrical triangle on the 15-minute timeframe.
A “triangle” in technical analysis forms when an asset consolidates between two converging trendlines. The upper line typically acts as resistance, while the lower line serves as support. A break beyond either line usually signals a breakout in that direction.
Triangles can vary in type. In an ascending triangle, the upper line is flat, while in a descending triangle, the lower line is flat. In a symmetrical triangle, both trendlines converge at roughly equal and opposite slopes, indicating sideways consolidation. As the price moves within this pattern, the range narrows until it compresses toward the midline.
The chart shared by Martinez shows XRP retesting the lower trendline of the symmetrical triangle on Christmas, where it found support. This suggests the pattern is holding for now. A break above the triangle could signal a bullish move, while a drop below it might indicate a bearish turn.
Unlike ascending or descending triangles, which often have a directional bias, symmetrical triangles are considered neutral, with breakouts equally possible in either direction. This makes it difficult to predict which way XRP might move.
Regarding the potential size of a breakout, Martinez notes it could be around 10%, based on the principle that breakouts from such patterns often match the height of the triangle at its widest point.
At the time of writing, XRP is trading near $1.84, down 3.3% over the past week.
Frequently Asked Questions
FAQs XRP Triangle Pattern Potential 10 Move
Beginner Questions
Q1 What does it mean when people say XRP is forming a triangle pattern
A Its a term from technical analysis It means the price has been bouncing between a descending upper line and an ascending lower line creating a shape that narrows over time like a triangle This shows a period where buyers and sellers are in a tight battle and a bigger price move often follows
Q2 Why does this triangle suggest a potential 10 move
A Triangle patterns typically end when the price breaks decisively above or below one of the trendlines The 10 move is an estimated target based on the height of the patterns widest part projected from the breakout point Its a common measuring technique not a guarantee
Q3 Which way will the price break Up or down
A There is no certainty The breakout direction is only confirmed once it happens Traders watch for a strong price move and increased volume above the upper line or below the lower line Until then its a 5050 guess
Q4 Whats a breakout and how do I know its real
A A breakout is when the price closes clearly outside the triangles boundary A real or valid breakout is often accompanied by higherthanusual trading volume which suggests strong conviction A small wick poking out and then reversing is a false breakout
Q5 Is this a sure thing Should I invest based on this pattern
A Absolutely not Chart patterns are not foolproof They are one tool to assess probability not certainty You should never invest based solely on a single pattern Always consider market news overall trends and only risk what you can afford to lose
Intermediate Advanced Questions
Q6 What type of triangle is this specifically