Widely-followed analyst and trader Ali Martinez is leaning bullish on a large-cap crypto project focusing on cross-border payments. Martinez notes that XRP faces a classic technical pattern that suggests a possible meteoric rally in the near future.
Analyst Identifies Bullish Scenario That Could Send XRP To $5
XRP price has been oscillating between $2 and $3 for several weeks now, signaling a tough battle between the bulls and bears.
The XRP chart is currently forming a head-and-shoulders pattern, which will complete on a break and close below the neckline. If the price stays below the neckline, XRP will nosedive.Â
In a Sunday post on X, Ali Martinez observed that this negative view will be invalidated in the near term if buyers push and maintain its price above the right shoulder. In his view, this view could lead to an explosive rally toward the $5 level.
While $5 is an attainable target for XRP, its immediate hurdle remains at the $3 threshold. A break and close above $3 will be the first indication that the head-and-shoulders pattern has resolved in favor of the bulls. That opens the doors for a possible rally to $4 and then $5.
But… Trump Favors Bitcoin, Not XRP
The much-anticipated White House Crypto Summit on March 7 concluded with a whimper rather than a bang for XRP traders as hopes of its potential inclusion in a US strategic crypto reserve quickly faded.
Despite initial excitement, President Donald Trump’s Crypto and AI czar David Sacks clarified on Friday that the mentioned cryptocurrencies, Ethereum, Solana, Cardano (ADA), and Ripple’s XRP, were only illustrative examples — not a firm commitment.
Moreover, the president’s border stockpile strategy, which focuses on altcoins, excludes new purchases. Conversely, Bitcoin is gaining clear favor from the Trump regime, with the U.S. also holding roughly $17 billion in BTC at current prices.
XRP dropped 5.7% in the past 24 hours to $2.21, down from a high of $2.98 earlier in the week — representing a drop of approximately 20% from its Sunday peak following Trump’s initial reserve announcement.
Nevertheless, the embrace of Bitcoin could eventually lead to other countries following the US’s footsteps, potentially acting as bullish catalysts for crypto in the coming months.
