XRP is forming a long-term ascending triangle on its monthly chart, and a long-term target near $31.87 only becomes meaningful after a monthly close above the $3.66 resistance level, an analysis showed.

The Crypto Basic, a blockchain media outlet, reported on Oct. 7 that crypto trader Ali Martinez presented $3.66 as a key pivot point in XRP’s long-term chart structure.

The core of the chart structure is the combination of an upper resistance line and a lower support line. XRP repeatedly faced resistance in the same upper zone, while its long-term lows gradually moved higher on the lower side.

The $3.66 level cited by Martinez aligns with the high range XRP recorded during an uptrend in 2025. The zone was presented as the first test in the long-term setup. The analysis assumes it is difficult to say the ascending triangle has broken out until buying regains that price range on a monthly closing basis.

Martinez’s chart pointed to $9.49 as the next major price level after a breakout. The final long-term target is near $31.87. Those figures are conditional targets, and what the chart first calls for is confirmation of a break above $3.66.

Assuming XRP is at $1.55, it would need to rise about 141 percent to reach $3.66. It would take about a 524 percent rise to reach $9.49 and about 1,997 percent to reach $31.87. Those ratios are simply calculated from the current price, and Martinez did not present the probability of reaching each level or the timing.

The $0.42 and $0.11 levels shown alongside the analysis were presented as past reference zones, not support lines near the current price range. They therefore need to be viewed separately from interpretations of short-term support.

The sequence of the chart analysis is relatively clear. XRP first needs to rise more than $2 from the current level to regain $3.66 and then close the month above it. Only after that would higher targets such as $9.49 and $31.87 carry technical meaning. For now, it is confirmed that a long-term bullish pattern is forming, but a breakout itself has not yet been confirmed.

4/6 $XRP appears to be forming an ascending triangle on its monthly chart, with resistance near $3.66. A monthly close above that level would confirm the breakout and bring the pattern’s projected target near $31.87 into view. https://t.co/26cqEieeUo