XRP has surged above a key technical pattern on the weekly chart, with analyst Ali Martinez noting that the bullish flag breakout could pave the way for a significant price increase. This pattern, formed from late 2024 to mid-2025, follows a previous price surge and indicates a consolidation phase before entering the next bullish phase.
The breakout occurred near the $2.25–$2.30 range, just above the 0.786 Fibonacci retracement level. Following this move, XRP surged to $3.40 before entering a short-term accumulation phase. At the time of writing, the cryptocurrency is trading around $3.23, holding above the breakout zone and maintaining a bullish structure.
XRP's Fibonacci Extension Aiming for a Two-Digit Target
Using Fibonacci extension levels, Martinez predicts two main bullish price targets: $5.75 at the 1.272 level and $11.20 at the 1.618 level. The second target serves as a long-term goal if the bullish momentum continues.
The breakout pattern, combined with the current uptrend, suggests that XRP may be preparing for one of the largest price surges in years, as both price levels would push XRP above its all-time high. Essentially, if this breakout is sustained and buying pressure continues, XRP could reach a two-digit price for the first time in history.
On-Chain Data Support
Notably, this technical pattern indicates a price target of $11 for XRP, which is also supported by other on-chain data. In a previous post, Martinez noted that XRP's MVRV ratio has emitted a historic bullish signal. He observed that previous 'golden crosses,' when MVRV rises above the 200-day moving average, often occurred before price surges of 630% and 54%.
The MVRV ratio, a measure of profit for holders, shows new bullish momentum. This latest signal marks the third occurrence in recent history, raising hopes for another major move.
With XRP's current price, if it repeats the 54% price surge, it would rise to $5.10. If it increases by 630%, the price would reach $24, bringing the market cap to $1.44 trillion, comparable to major corporations like Tesla.
An even more positive bullish outlook is the resolution of the ongoing SEC lawsuit, further reinforcing investor confidence that XRP could reach new highs for the first time in nearly eight years.