Ripple’s cross-border token, XRP, made multiple attempts to break above the top of its consolidation range but was repeatedly capped between $1.50 and $1.60.
Recently, however, analyst Ali Martinez argued that a breakout has been confirmed — though the outcome may not match bullish expectations.
Breakout Confirmed?
After months of sideways trading, mostly between $1.35 and $1.50, XRP’s most recent attempt to rally occurred last week when the token pushed above the upper boundary and touched $1.55. Market observers initially took this as the start of a new uptrend, but the move was short-lived. XRP was immediately rejected at that level and fell back to around $1.40 within hours.
The token plunged further on Friday and Saturday along with the broader market, amid growing concerns that the temporary truce between the US and Iran could break down and lead to renewed attacks. XRP slipped below $1.30 for the first time since early April, registering a multi-week low while overall network activity also declined.
During this decline, Ali Martinez posted an update on the token’s price action, stating that “XRP is breaking out” after the price breached the rising trend line of a symmetrical triangle on the daily chart. Martinez projected the move could continue downward to near $1.14.
Shortly afterward, developments in US–Iran negotiations improved sentiment across markets and pushed prices higher. XRP climbed back to roughly $1.36, yet it remained below the lower boundary of the symmetrical triangle Martinez had identified.
Differing Views
Not all analysts agree on the signal. CRYPTOWZRD offered an opposing view, noting that XRP closed the daily chart with a bullish candle, but cautioned that the token needs to reclaim the $1.40 level before a more substantial rally can take hold.
Another analyst, CW, pointed to on-chain and exchange data indicating that top Binance traders have started closing short XRP positions and opening longs. According to that analysis, large holders appear to be reducing their bearish exposure to XRP.
The long position ratio is increasing as Binance top traders holding shorts on $XRP close their positions.
Whales are ending their $XRP bearish bets. pic.twitter.com/HnlGtzhlYR
— CW (@CW8900) May 23, 2026
The market’s short-term direction will likely hinge on whether XRP can hold gains above key resistance and whether broader geopolitical headlines sustain positive risk sentiment. For now, analysts remain split between a renewed bullish case if $1.40 is reclaimed and a bearish scenario if the token follows through on the triangle breach toward the lower targets some have outlined.