Next XRP Price Breakout: Analyst Reveals Top Level to Watch

Martinez published a chart showing XRP trading within a descending triangle pattern. The formation has put a key price level at the center of the analysis.

The Setup Martinez is Watching

A descending triangle is a technical pattern defined by a flat support level and a declining upper trendline. The price compresses between these two boundaries over time. Martinez identified this structure on XRP’s 1-hour chart and noted that the asset is testing a critical area.

He is “watching for an hourly close above $1.40.” That level sits just above the triangle’s flat base. A confirmed close above it would signal a breakout from the pattern.

What the Chart Shows

The chart covers price action from September 3 through September 8. XRP traded in a clear downward channel during this period, retracing the gains from the surge in late August. The asset formed a series of lower highs while holding support near $1.38.

Martinez applied Fibonacci retracement levels to the chart. The 0.786 level sits at $1.40, 0.618 at $1.4176, 0.5 at $1.4301, and 0.382 at $1.4426. The 0 level is at $1.4841. These levels provide context for where resistance may appear if a breakout occurs.

A projected path on the chart shows the digital asset attempting to push higher after a bounce near the triangle’s base. At each Fibonacci level, the path shows brief consolidation before the asset continues upward. These pauses are short-lived, with the projected move ultimately targeting the $1.46 area, which aligns with the 0.3851 Fibonacci level at $1.4583.

The Breakout Target

Martinez wrote that if the $1.40 breakout is confirmed, it could trigger a rally toward $1.46. That would be roughly $0.06 from the breakout level, bringing price back into a zone of Fibonacci confluence.

The $1.40 to $1.46 range contains multiple retracement levels. A move through this zone would require XRP to clear several layers of potential resistance in succession. Notably, another analyst has highlighted $1.46 as a crucial level that could open the door to higher targets.

At the time of the chart, XRP was trading near $1.3853. He sets the condition of an hourly close above $1.40. Until that close occurs, the pattern remains unconfirmed.