A trading expert has stressed that despite ongoing XRP losses, the asset’s technical setup is pointing to a potential rally toward a record high of $8.5.
To this end, according to Ali Martinez in an X post on April 12, XRP is trading within a massive ascending triangle on the monthly chart that has developed over nearly nine years.
Since 2017, the asset has repeatedly rallied into horizontal resistance before being rejected and pulling back to a rising trendline that serves as macro support.
The analysis pointed to a recurring cycle, with multiple touches of the ascending support confirming its strength. Each rejection at resistance has led to higher lows, reinforcing the long-term bullish structure despite extended consolidation.
Following the August 2025 rejection, Martinez said he expects XRP to retest the $0.75 and $0.80 support zone, which aligns with the ascending trendline and could attract buyers. Holding this level would preserve the triangle structure and support another upward move.
If the pattern breaks upward, the outlook projects a potential rally toward $8.5, based on the triangle’s height.
The extended consolidation strengthens this outlook, as long-term patterns often lead to outsized moves once they resolve.
However, the setup depends on XRP holding its macro support. A sustained drop below $0.75 could invalidate the pattern and delay the breakout.
To sustain this momentum, XRP will heavily rely on broader market sentiment, considering the cryptocurrency lacks a specific catalyst to drive price action.
XRP soaring network activity
At the same time, despite muted price growth, the XRP network continues to show strength and expansion.
For instance, the XRP Ledger has recorded a sharp rise in stablecoin activity, with transfer volume reaching $1.77 billion over the past 30 days, marking a 91.9% increase.
Other key metrics have also trended upward during the period, with stablecoin market capitalization climbing to $432.26 million, up 7.51%, while the number of holders rose 7.99% to 56,830, reflecting growing adoption across the network.
The market remains heavily dominated by RLUSD, which accounts for roughly 84–85% of the total share, with a value of about $336.8 million. Meanwhile, the ecosystem continues to expand, with new stablecoins such as XSGD, EURØP, and USD Coin launching on XRPL in 2025.
XRP price analysis
By press time, XRP was trading at $1.33, having dropped 2.5% in the past 24 hours. On the weekly timeframe, the asset is down over 3%.
As things stand, XRP’s immediate support zone lies between $1.28 and $1.30, and a break below this range could open the door to $1.15 or lower.
On the other hand, XRP’s first major hurdle stands between $1.36 and $1.40, where a decisive close above $1.40 would signal potential relief toward $1.60.
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