The Flare Network token jumped to $0.035 in December 2024, riding the wave of Bitcoin&#8217;s surge and the broader crypto market rally. While its price trended downward through most of 2025, April and the first half of May have been…

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A cryptocurrency analyst has explained how an XRP close above this level could 
trigger a run to $4.80, based on a technical analysis pattern. XRP Could See A 
Surge To New Highs If It Manages This Weekly Close In a new post on X, analyst 
Ali Martinez has cited a technical analysis (TA) pattern to talk about where 
XRP can go next. The pattern in question is a Parallel Channel. Parallel 
Channels form whenever an asset&#8217;s price observes consolidation between two 
parallel trendlines. The upper line of the pattern is likely to be a source of 
resistance, while the lower one that of support. A break out of either of 
these levels can imply a continuation of trend in that direction. There can be 
different types of Parallel Channels, depending on how the trendlines are 
oriented with respect to the axes. When they are slopped upwards, the pattern 
is known as an Ascending Channel. Similarly, them having a negative slope 
makes the formation a Descending Channel. Related Reading: Bitcoin Next Key 
Level Is $136,000 If Momentum Holds, Glassnode Says In the context of the 
current topic, the third and the most ordinary type is of relevance: a 
Parallel Channel with trendlines parallel to the time-axis. This pattern 
corresponds to true sideways consolidation in the cryptocurrency. Below is the 
chart shared by the analyst that shows the Parallel Channel that the 1-week 
price of XRP has seemingly been following during the last few months. As is 
visible in the graph, the weekly XRP price has observed a sharp surge recently 
and closed in on the upper level of the Parallel Channel. If the asset&#8217;s 
current trajectory maintains, it could end up making a retest of the upper 
line situated around $3. Earlier in the year, the cryptocurrency encountered 
resistance at the mark, so it&#8217;s possible that something similar could occur 
this time as well. In the event that it is able to surge past the line, 
however, a bullish breakout might take place. &#8220;A weekly close above $3 could 
send XRP to a new all-time high of $4.80!&#8221; says Martinez. From the current 
price of the coin, a rally to this target would imply a gain of about 56%. 
Related Reading: Bitcoin Falls Below $117,000 Amid $3.5 Billion Profit-Taking 
Frenzy It now remains to be seen whether the digital asset will manage to 
escape out of the Parallel Channel and if it does, whether a bull run of this 
magnitude would follow. In some other news, the 1-week price of Ethereum is 
also heading toward the resistance line of a Parallel Channel, as the analyst 
has pointed out in another X post. &#8220;A key resistance level ahead for Ethereum 
$ETH is $3,980,&#8221; notes Martinez. &#8220;Breaking above it could ignite a major bull 
rally!&#8221; XRP Price XRP has seen a fresh 7% surge in the last 24 hours that has 
taken its price to $3.08. Featured image from Dall-E, charts from 
TradingView.com

XRP Close Above This Level Could Send Price To $4.80, Analyst Says

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