Cryptocurrency analyst Ali Martinez says XRP has just broken down from a short-term technical pattern — a move that could push the token toward $1.14.
In a recent post on X, Martinez pointed to a Symmetrical Triangle that had been developing on XRP’s daily chart. A Symmetrical Triangle is a consolidation pattern formed by two converging trendlines with roughly equal and opposite slopes; as price oscillates between them, the trading range narrows until a breakout occurs. Traders generally treat the upper line as resistance and the lower line as support, and a decisive break usually implies a continuation in that direction.
According to Martinez’s chart, XRP spent several months trading inside the triangle before the range tightened in May and the price ultimately broke below the support line. That downside breakout has so far produced continued bearish action, and the analyst has set a near-term downside target of $1.14 based on the move.
Martinez also flagged a much longer-term structure on the monthly chart: a Parallel Channel that appears to have guided XRP’s multi-year price action. The token retested the upper boundary of that channel in 2025 but failed to clear it and was rejected, putting additional downward pressure on price. If XRP keeps respecting this long-term channel, Martinez suggested the channel’s midpoint — near $0.73 — could evolve into an attractive accumulation zone.
Market snapshot: at the time of writing XRP was trading around $1.23, down roughly 8% over the past seven days.
As always, technical patterns can offer useful framing for traders but are not guarantees; macro events, on-chain developments, and broader market sentiment can change trajectories quickly.
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