The XRP price breakout in late June to ongoing July that has punched over 80% gains has stirred renewed interest across the crypto space. 

According to Ali Martinez, by this rally the XRP price has successfully exited a bullish flag formation on the weekly chart, opening the door for a potentially explosive move for $15. 

While $15 may seem lofty, but the chart structure alongside significant market developments like Proshares Ultra XRP ETF approval backs this projections and makes it less speculative than it may appear.

XRP Price Has Taken Support on Historical Highs

Zooming into the daily chart, the XRP crypto recently bounced off a significant historical level, which is its previous all-time high zone of $3.40, now acting as support. 

This level was identified as crucial zone and the recent reaction at this level lends credibility to the thesis that XRP price is in the early stages of another bullish cycle.

While the market awaits confirmation, the current consolidation above this historic support suggests bulls are gaining strength. Price discovery may resume if XRP crypto manages to push past the next key resistance at $3.66.

Analyst Explains His Wave Theory and the Road Ahead

Another critical angle comes from another analysts comparing XRP crypto’s current cycle to its 2017 performance. Back then, XRP price experienced three distinct growth waves. 

If the same structure repeats, the experts says we are presently in “Wave 1″. This wave has build around the previous ATH near the $3.40–$3.66 range.

In the next “Wave 2,” as described by the analyst, would commence only if XRP price manages to clear the newly formed $3.66 threshold. 

This next phase is where the real expansion begins, moving the asset well into price discovery territory. 

Given the current setup, this structural pattern appears to be playing out, making the $15 target more of a roadmap than a moonshot.

A Bullish Structure Aligns With Market Sentiment

What’s striking about this scenario in XRP price action is the robust convergence of technical patterns and broader market sentiment. 

Institutional interest in the XRP crypto has been steadily growing, and any additional tailwinds pump it higher. For instance, if Bitcoin rallies to new highs it could provide the momentum XRP needs to complete its breakout.

So far, the XRP price remains well-supported, and technical signals are aligning with historical patterns. Traders are keeping a close watch on the $3.66 level. 

A clean breakout above it could not only confirm the start of “Wave 2” but also lend strong support to the long-term $15 projection.

As momentum builds, and optimism from analysts like Ali Martinez continues to grow, the XRP price narrative becomes increasingly hard to ignore.