XRP Price Ready for Breakout? Top Analyst Eyeing 26% Rally

The fourth-largest cryptocurrency by market cap jumped up by 1.5% on the very first day of the month, trading around $1.38. May traditionally has been among the most successful months for $XRP, giving an average return of 23%.On top of it, Well-known crypto analyst Ali Martinez says $XRP is nearing a breakout zone that could trigger a sharp 26% move soon.

$XRP is Getting Ready For a Breakout

According to Ali Martinez, $XRP is currently trading inside a symmetrical triangle on the daily chart. This pattern forms when price moves between lower highs and higher lows, slowly tightening into a smaller range.

Based on the size of this pattern, a breakout could lead to a move of around 26% in either direction.

However, Martinez says this area is a risky zone for traders because false breakouts can happen here.

As of now, $XRP is trading between two key zones. Support is near $1.35, while resistance sits around $1.45.

If $XRP closes above $1.45, the next upside target could be around $1.82. But if the price falls below $1.35, $XRP could slide toward $1.00.

$XRP See 23% Jump In May

While technical indicators show a possible breakout, the broader market is still waiting for a trigger. Historical data shows May ranks among the strongest months of the year for $XRP

Over the last 13 years, $XRP has averaged a gain of more than 23% in May.

If history repeats, $XRP could climb toward the $1.75 range by June and may even look to test the key resistance level near $2.03.

GraniteShares $XRP ETF Launch Could Add Volatility

Another key date to watch is May 7, when leveraged $XRP ETFs from GraniteShares are expected to launch. This event could bring additional volatility and act as a trigger for the next big move.As of now, $XRP spot ETF inflows have crossed $1.29 billion, a figure that shows institutional demand is not just present, it’s holding $XRP even through the recent consolidation period.

The next few days could be important. If $XRP breaks out of its current range, May may begin with much more than a 1.5% gain.