# XRP on the Rise: Analyst Predicts $3.70 Target
## Introduction:
XRP, the popular cryptocurrency, has faced challenges breaking above the $3 resistance level recently. However, there is an air of optimism as renowned on-chain crypto analyst, Ali Martinez, has hinted that a swift rise to $3.70 might be imminent. Let’s dive into the details of this promising analysis.
## Analyst’s Prediction:
According to Ali Martinez’s forecast shared on August 25, the path to $3.70 for XRP “won’t take long.” While details on the exact reasoning behind this prediction were scarce, a chart accompanying the post hints at a potential price target around mid-September.
## Technical Analysis:
Currently, XRP is seen forming a descending triangle pattern, incorporating Fibonacci retracement and extension levels. If the cryptocurrency manages to breach the downtrend resistance, the calculated move, coupled with extension levels, leads directly to the $3.70 target.
## Speculations on XRP’s Future:
The last time XRP reached such heights was in July when it hit about $3.66. Another analyst known as AltcoinGordon observes a classic cup-and-handle formation on the daily chart, suggesting that XRP may be on the brink of a significant surge. This pattern indicates a consolidation phase after a U-shaped recovery, potentially paving the way for a breakout beyond the pattern’s neckline near $3.80, aligning with Martinez’s projections.
## Cautious Outlook:
Nevertheless, a drop below $2.80 could trigger a decline toward $2.70, with the possibility of a more extensive retracement. Traders are advised to keep a watchful eye on these crucial support levels.
### Conclusion:
The crypto sphere anticipates an exciting journey for XRP as it eyes the $3.70 milestone, as predicted by crypto analyst Ali Martinez. With technical indicators aligning with this optimistic outlook, the path ahead for XRP seems promising.
*[Featured image via Shutterstock]*
*This article was originally published on Finbold.*