Cryptocurrency trading expert Ali Martinez is projecting that XRP could rally to a new all-time high near $5, provided the token secures a decisive weekly close.
Martinez noted that XRP is showing renewed strength on the weekly chart, emphasizing that breaching $3 would serve as the key catalyst for a breakout to new highs at $4.9, he said in an X post on July 16.
The analysis highlighted that XRP has repeatedly tested the $3 mark since early 2025 but has consistently failed to close above it, reinforcing its role as a major resistance level.
However, recent price action shows a shift in momentum, with XRP forming higher lows since bottoming near $1.90 in April.
The steep rally into mid-July, which saw XRP briefly reclaim $3, suggests strong buying interest, putting the token on the brink of a critical breakout.
Now, if buyers can push the price above $3 and hold it through the weekly close, the setup would confirm a bullish continuation, targeting $4.80, which is nearly 60% above current levels.
XRP fundamentals
Overall, XRP has been on a bullish run in line with broader market sentiment, driven by Bitcoin’s (BTC) rally to a record high above $123,000. This momentum has helped XRP reclaim its position as the third-largest cryptocurrency by market cap.
The rally also follows the U.S. Securities and Exchange Commission’s decision in late June to drop its appeal in the long-running case against Ripple, ending four years of legal uncertainty. Both parties are now exploring a settlement pending court approval.
Adding to the optimism, Ripple applied on July 2 for a federal bank charter with the Office of the Comptroller of the Currency, signaling an ambitious move into regulated financial services. Investor interest is also rising, with eleven asset managers filing for spot XRP ETFs and ProShares launching leveraged products tied to the token.
XRP price analysis
At press time, XRP was trading at $2.96, up 3% on the day and nearly 24% over the past week.
The price is well above its 50-day simple moving average (SMA) at $2.29 and 200-day SMA near $1.80, confirming strong bullish momentum.
However, with a 14-day RSI of 80.62 signaling extreme overbought conditions, the market risks a short-term pullback that could limit its ability to break and hold above the key $3 level decisively.
Featured image via Shutterstock
