XRP fell 2.83% to $1.41 over the past 24 hours as stronger U.S. jobs data pressured crypto markets. Analyst Ali Martinez says a monthly close above $3.66 would confirm a long-term breakout toward $60, while XRPL activity is accelerating after a new amendment-tracking tool went live.
XRP dropped 2.83% to $1.41 in the past day, while Bitcoin dropped 1.63% over the same period. The slide also triggered $14.51 million in XRP liquidations, with long traders absorbing most of the losses.
Despite the pullback, analyst Ali Martinez says XRP could be building toward a much larger move. He argues the token is forming a massive ascending triangle on the monthly chart, with higher lows repeatedly testing the same resistance.
$3.66 is the level to watch
Martinez identifies $3.66 as the key resistance XRP must close above on a monthly basis to confirm the breakout. If that happens, his chart projects a move toward around $9.49, followed by a potential rise to $15.60, with a possible pullback around those levels first.
After that pullback, Martinez's chart shows XRP potentially continuing higher toward $31.87 and eventually toward around $60. He did not give a timeline, presenting the figure as a long-term technical target instead.
Jobs data and volume weigh on the pair
XRP's slide follows a U.S. jobs report showing 162,000 new jobs against an unemployment rate that stayed at 4.1%, a combination that has weighed on risk assets broadly. Even so, trading activity has stayed strong: XRP's August spot volume hit its highest level since February, with Binance recording around $7.28 billion and Upbit about $4.68 billion in XRP trades.
XRPL activity picks up alongside catalysts
XRP's fundamentals could also matter for any recovery. A September 15, 2026, U.S. Senate vote on the CLARITY Act could bring clearer digital-asset rules, while XRPL is testing its Lending Protocol and Single Asset Vaults. Spot XRP ETFs also added $130 million in weekly inflows, pushing total net inflows to around $1.68 billion.
Network activity backs up the momentum. XRP Ledger Foundation CTO Denis Angell said 278 pieces of amendment surface were exercised for the first time in the 48 hours after a new amendment scorecard tool went live, with Devnet coverage reaching 91% and eight of 16 tracked amendments fully validated. Angell said: "Turns out ledgers do too."
Two amendments jumped from single-digit coverage to 100% in that same 48-hour window, according to U.Today.
Sources: Coinpedia Fintech News, U.Today
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