XRP eyes $60 long-term target if monthly breakout tops $3.66 resistance

Technical formation suggests bullish potential

Despite a short-term dip, analysts remain focused on XRP’s broader technical outlook. Crypto analyst Ali Martinez highlighted that XRP has been forming a substantial ascending triangle on its monthly chart for almost a decade. In technical analysis, an ascending triangle is generally seen as a bullish continuation pattern, especially when developing over such a long period.

Martinez identified that a sustained breakout above $3.66 on the monthly chart would mark a significant development for XRP, potentially confirming the completion of this pattern. If such a scenario unfolds decisively, he believes this could open the path toward a long-term technical target near $60—several thousand percent above current levels.

XRP has been forming an ascending triangle for nearly ten years. If the monthly close clears $3.66, the chart pattern could target $60 in the long run.

While the $60 projection is notable, industry observers caution that reaching it would require XRP to overcome multiple resistance levels. The initial and most crucial step is a clear monthly breakout above $3.66, which is well above the current price and therefore a significant milestone. Until that level is breached, the price may remain within its existing range.

Mini dictionary: Ascending triangle — A technical chart pattern featuring a horizontal resistance line and a rising support trendline, often interpreted as a sign of potential bullish continuation if the resistance is broken decisively.

Momentum indicators and near-term outlook

Current technical indicators provide a mixed picture. The Relative Strength Index (RSI) stands at 60.53, which reflects modest bullish momentum since it is above the neutral 50 mark, but momentum has waned compared to the recent average RSI of 67.58. This suggests that while bulls retain a slight advantage, their control is not dominant.

The Moving Average Convergence Divergence (MACD) reads 0.07139, below the signal line at 0.07884, with a histogram value of -0.00745. This setup points to weakening bullish momentum in the short term. A reversal above the signal line would be required for the next phase of upward movement to begin in the near term.

XRP’s daily indicators suggest a reduction in bullish momentum, with MACD and RSI showing mixed signals after a recent upswing.

Investors may closely watch price behavior around the $3.66 resistance. Rising volume and improvement in key oscillators could boost the short-term technical outlook. However, until a sustained close above this level materializes, price action remains range-bound.

Path ahead for XRP

A confirmed monthly close above $3.66 would be a critical technical event for XRP, bringing Martinez’s long-term target of $60 into sharper focus. Until that breakout occurs, however, XRP’s direction will depend on market sentiment, trading volume, and whether buyers regain momentum after the latest pullback.

XRP is a digital asset and payments network developed by Ripple Labs, aimed at enabling fast and cost-effective cross-border payments for financial institutions.