The post XRP ‘won’t take long’ to reach $3.70, according to crypto analyst  appeared on BitcoinEthereumNews.com. XRP failed to break above the $3 resistance last week, but there is still room for optimism. On-chain crypto analyst, Ali Martinez predicted in an August 25 post on X that “it won’t take long” before the cryptocurrency is back at $3.70. While he did not elaborate on his prediction, Martinez provided a chart suggesting we might see the target price sometime around mid September. Technically, XRP is currently forming a clear descending triangle pattern with Fibonacci retracement and extension levels.  If price manages to break above the downtrend resistance, the measured move, aligned with extension levels, points directly toward $3.70.  Is an XRP breakout coming? XRP has not approached such heights since July, when it peaked at around $3.66, but as another analyst, AltcoinGordon, notes, a classic cup-and-handle formation appearing on the daily chart implies the asset might be “on the verge of a monumental run.” Namely, the formation indicates a price consolidation within a narrow range following a U-shaped recovery.  From a technical standpoint, this consolidation could set the stage for a potential breakout above the pattern’s neckline near $3.80, which agrees with Martinez’s own projections. However, a breakdown below $2.80 could trigger a slide toward $2.70, with a deeper retracement possible. Featured image via Shutterstock Source: https://finbold.com/xrp-wont-take-long-to-reach-3-70-according-to-crypto-analyst/The post XRP ‘won’t take long’ to reach $3.70, according to crypto analyst  appeared on BitcoinEthereumNews.com. XRP failed to break above the $3 resistance last week, but there is still room for optimism. On-chain crypto analyst, Ali Martinez predicted in an August 25 post on X that “it won’t take long” before the cryptocurrency is back at $3.70. While he did not elaborate on his prediction, Martinez provided a chart suggesting we might see the target price sometime around mid September. Technically, XRP is currently forming a clear descending triangle pattern with Fibonacci retracement and extension levels.  If price manages to break above the downtrend resistance, the measured move, aligned with extension levels, points directly toward $3.70.  Is an XRP breakout coming? XRP has not approached such heights since July, when it peaked at around $3.66, but as another analyst, AltcoinGordon, notes, a classic cup-and-handle formation appearing on the daily chart implies the asset might be “on the verge of a monumental run.” Namely, the formation indicates a price consolidation within a narrow range following a U-shaped recovery.  From a technical standpoint, this consolidation could set the stage for a potential breakout above the pattern’s neckline near $3.80, which agrees with Martinez’s own projections. However, a breakdown below $2.80 could trigger a slide toward $2.70, with a deeper retracement possible. Featured image via Shutterstock Source: https://finbold.com/xrp-wont-take-long-to-reach-3-70-according-to-crypto-analyst/