XRP price continued its strong momentum today, July 11, as the crypto market surge gained steam. Ripple rose for the fourth consecutive day and crossed the psychological point at $2.50. Its strong technicals and ETF inflows suggest that the token will surge to $5 as Bitcoin surges to a record high.
XRP has been in a consolidation period throughout this year as it formed a symmetrical triangle pattern. Therefore, the combination of the surge in November last year and the triangle pattern mean that it has been forming a bullish pennant. A bullish pennant is a common continuation sign in technical analysis.
Therefore, the most likely XRP price forecast is bullish, with the next target being at $4.2455. A surge to that level will be confirmed if it surges above the year-to-date high of $3.92.