Analyst says XRP is ‘inching closer to a big move’ to $1.62

By Finbold | Created at 2026-10-05 12:45:41 | Updated at 2026-10-05 15:25:22 4 hours ago

Although XRP has faced strong resistance around $1.53 over the past seven weeks through October 5, 2026, cryptocurrency analyst Ali Martinez has set key conditions for the asset to rally toward $1.62 soon.

Martinez noted that XRP’s price is forming a descending triangle on the four-hour chart, according to his X post, which Finbold analyzed on Monday. As such, this analyst expects XRP to reach $1.62 if it breaks above the hypotenuse of its descending triangle.

As this token inches closer to the apex of its descending triangle, Martinez believes a breakout is imminent, despite relatively low demand from whale investors. As a result, he highlighted that XRP price must consistently close above a supply level around $1.53 to confirm a rally towards $1.62.

“XRP continues to consolidate inside a triangle. As price moves closer to the apex, a bigger move could be approaching,” Martinez flagged.

The bullish outlook could, however, be delayed if this token’s price falls below the horizontal lower trendline, near $1.4699, of the descending triangle.

XRP price recent gains

XRP price has climbed by more than 12% over the past six months, thereby increasing its market capitalization to $95.8 billion at the time of reporting. During the last three months, this token rallied by more than 31% largely fueled by renewed institutional demand as Finbold explained.

With the token having formed a potential higher high on the 6-month chart, Martinez anticipates it to maintain bullish sentiment.

Over the past 24 hours, this crypto asset saw its trading volume spike by more than 75% to approximately $1.95 billion at the time of writing, according to data from CoinMarketCap.

Consequently, this Martinez’s XRP price analysis favors a further uptrend amid an already established rising momentum.

Featured image via Shutterstock

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