XRP Breaks Out of Bullish Flag Pattern, Eyes $11 Price Target
Main Idea
XRP has broken out of a bullish flag pattern on the weekly chart, with analyst Ali Martinez projecting a potential price target of $11 based on technical analysis and on-chain data.
Key Points
1. XRP broke out of a bullish flag pattern near the $2.25–$2.30 range, signaling potential for a significant rally.
2. Analyst Ali Martinez identified Fibonacci extension levels suggesting XRP could reach double-digit prices, with a target of $11.
3. The MVRV ratio, a measure of holder profitability, has flashed a historically bullish signal, indicating potential for further upward momentum.
4. Previous 'golden crosses' of the MVRV ratio preceded rallies of 630% and 54%, suggesting similar potential for XRP.
5. A 54% rally from current prices would push XRP to $5.10, while a 630% surge would send it to $24, rivaling major corporations like Tesla in market cap.
Description
XRP has broken out of a bullish flag pattern on the weekly chart. Analyst Ali Martinez’s projections point to targets as high as $11. On-chain data like the bullish MVRV signal supports continued upward momentum. XRP has surged above a key technical pattern on the weekly chart, with analyst Ali Martinez identifying a bullish flag breakout that could pave the way for a significant rally. The formation, which took shape between late 2024 and mid-2025, followed an earlier price surge and represents...
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