XRP has continued to show bullish on-chain patterns as its price remains on the upside while hitting crucial levels. Amid this continued price rally, popular crypto analyst Ali has, in a recent X post, shared a rare insight signaling a huge breakout for XRP soon.
According to the analyst, XRP has eventually broken a long-term bullish flag, which suggests it might be heading towards a massive $15 mark. While this suggests that the massive rally recently witnessed in the price of the token has yet to wrap up.
To back his predictions, the analyst shared an XRP/USDT weekly chart that shows a crucial breakout, with the price of XRP surging past $3.50 after several weeks of consolidation within a tightening triangle formation.
XRP to smash ATH soon
While the breakout comes amid a 23.58% weekly surge, as highlighted in the chart, the recent breakout in XRP’s price comes after the third-largest cryptocurrency by market capitalization had traded sideways for multiple months.
While the consolidation period has seen XRP frequently testing both resistance levels and key support levels, these levels now appear to have been a classic accumulation zone, as the token remains steady around $3.5 over the past days.
Nonetheless, the chart suggests that there is still more rally ahead for XRP, posing its price to reclaim its all-time high in no distant time. While the analyst further revealed that the bullish pattern formed by XRP shows that it is now targeting $15, he did not disclose a major timeframe when this major breakout will happen.
This insight shared by the analyst has received mixed reactions from commentators, as many expressed delight while others shared disbelief with claims that the prediction is unrealistic for the current bull run.
The epic price prediction for XRP comes amid a slight correction in the price of the token after multiple days of notable gains. The token has shown a slight price dip of 1.59% over the last day, with its price sitting steadily around $3.55 as of press time.
Further data shared by CoinMarketCap shows that the asset is only 7.29% away from smashing its 2018 high of $3.84.
Although the forecast has ignited confidence among investors, as optimism on the token reaching a $5 mark in no distant time remains solid, market participants have expressed confidence that XRP will project more massive gains for holders as the launch of the XRP ETF might soon be considered by the U.S. SEC.