Prominent cryptocurrency analyst, Ali Martinez, has shared a bullish outlook for XRP, suggesting the token could hit an all-time high of $5.
In an X post on March 9, Martinez highlighted that this possibility hinges on XRP’s ongoing technical formation, an inverse head-and-shoulders pattern on the daily chart, typically a bullish reversal signal.
The chart outlined the left shoulder, head, and right shoulder structure, with the neckline support at around $2.15 acting as a critical make-or-break zone.
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Martinez explained that for the bullish outlook to hold, XRP must avoid closing below this neckline and instead break above the right shoulder level near $2.80.
A successful breakout could trigger a rally toward $5. However, if XRP closes below $2.15, the bearish scenario would be confirmed, potentially dragging the token to lower price levels before any recovery.
XRP mirroring 2017 rally
Further supporting the possibility of an XRP rally is its resemblance to the 2017 bull run. Analyst Dark Defender has observed similarities between XRP’s current market structure and its price action before the explosive 2017 breakout.
Back then, XRP traded within a prolonged consolidation phase before surging over 62,000%, reaching an all-time high of above $3. Fast forward to 2025, and XRP appears to be following a similar trajectory, once again breaking out of a multi-year accumulation phase.
Overall, the long-term sentiment around XRP remains bullish. The asset has surged about 400% in the past four months, and multiple bullish catalysts are still in play.
A major factor on the horizon is the potential resolution of Ripple’s long-running Securities and Exchange Commission (SEC) lawsuit, which has been ongoing since December 2020. If dismissed or settled, this could remove a key regulatory overhang and significantly boost XRP’s price.
Beyond the lawsuit, speculation is mounting over approving an XRP spot ETF, with Bloomberg estimating a 65% chance of approval this year—especially if regulatory clarity improves. Institutional demand from an ETF could inject fresh capital into XRP, further fueling its rally.
If these catalysts align, XRP could reclaim its all-time high of $3.84, with analysts projecting a potential move toward $5. Some even suggest the asset could enter the double-digit valuation zone.
XRP price analysis
At press time, XRP was showing signs of consolidation, trading at $2.25, down 2.5% in the last 24 hours and 0.5% over the past week.
From a technical perspective, short-term sentiment appears bearish, as XRP is trading below its 50-day simple moving average (SMA) of $2.62. However, it remains well above the 200-day SMA of $1.576, signaling that the long-term uptrend is still intact.
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