A cryptocurrency analyst has identified a potential support zone for XRP between $0.60 and $0.90, based on a technical analysis pattern. According to analyst Ali Martinez in a recent post on X, XRP’s monthly price chart is forming an Ascending Triangle.
An Ascending Triangle is created when an asset’s price moves between two converging trendlines: a flat upper resistance line and a rising lower support line. As the price consolidates within this pattern, its range narrows toward the top. Typically, a breakout from a triangle can signal the start of a sustained trend—a move above resistance is considered bullish, while a drop below support is bearish. Due to its upward-sloping support, an Ascending Triangle often suggests a higher probability of an upward breakout.
Martinez’s chart shows that XRP’s monthly price retested the upper resistance of the triangle last year but faced rejection, leading to a significant decline. While it’s unclear if the bearish momentum will continue, a further drop could see the price retest the lower support line.
“XRP could find support along the triangle’s hypotenuse between $0.90 and $0.60,” Martinez noted. This line has previously acted as a cushion for XRP, including during the lows of the bear market.
It remains to be seen whether XRP will retest this support level soon or rebound before reaching it. At the time of writing, XRP is trading around $1.4, down nearly 5% in the past 24 hours.
Frequently Asked Questions
Of course Here is a list of FAQs about the XRP triangle pattern and its suggested support range designed to be helpful for both beginners and more experienced traders
Beginner Definition Questions
1 What is a triangle pattern in trading
A triangle pattern is a common chart formation where the price moves between two converging trendlines It shows a period of consolidation before the price typically breaks out in one direction signaling the next major move
2 What does potential support in the 060 to 090 range mean
It means that based on the triangle patterns structure analysts believe if the price of XRP drops it is likely to find buying interest and potentially stop falling within that price zone Think of it as a predicted floor based on historical price action
3 I see the triangle on the chart but what kind is it
For XRP the pattern discussed is most often a symmetrical triangle This means the highs are getting lower and the lows are getting higher squeezing the price into a tighter range It indicates a balance between buyers and sellers before a decisive breakout
4 Is this a guarantee that XRP will bounce from 060
No it is not a guarantee Technical analysis like this identifies probabilities and key levels to watch It suggests where support is likely to be found but market conditions can always change and prices can break through support levels
Advanced Analytical Questions
5 How was the 060 to 090 support range specifically determined
This range is typically derived from key historical price levels within the triangle The upper bound often aligns with previous resistanceturnedsupport while the lower bound connects significant swing lows from the patterns formation and may align with longerterm moving averages
6 What happens if XRP breaks below the 060 support
A decisive break and close below 060 especially on high volume would invalidate the bullish support premise of the triangle The next major support level would then become the primary focus and the pattern would be considered a failed consolidation potentially leading to a steeper decline
7 Does the triangle suggest a price target if it breaks upward
Yes Analysts often measure