XRP has become the center of attention today after cryptocurrency chart analyst Ali Martinez predicted that the price would break out strongly from the weekly bullish flag pattern and set a price target of $11. This prediction has stirred up social media and trader chat rooms. Martinez shared the chart and a tweet stating: "XRP aims for a target of $11 after breaking out from the bullish flag pattern on the weekly chart," a forecast that is currently being echoed in market comments.
Market reaction: XRP has traded around the $3 mark after a strong surge in recent weeks. At the time of writing, XRP is trading around $3.18 after soaring 11% this week, thanks to news and overall industry driving factors. This price surge is also accompanied by increased trading volume as traders price in both technical momentum and regulatory easing.
Why the Excitement?
Martinez's thesis is a standard technical analysis: a steep flagpole followed by a pennant/bull flag pattern, and then a breakout on the weekly timeframe. This is a pattern that, if valid, would forecast a significant price movement. Some experts summarizing his analysis note that the target levels are similarly calculated using Fibonacci extensions and the height of the pattern to give targets of $8–$15, with $11 presented as a cautious scenario.
The technical structure is not the only driver. The market structure has changed significantly this month after the prolonged SEC lawsuit against Ripple officially concluded, with parties withdrawing appeals and a court-imposed settlement being confirmed, a development that has lifted a significant legal burden off XRP and contributed to increased buying demand.
At the same time, issuers have been pivoting to XRP-linked ETF products: ProShares launched leveraged XRP ETFs in early July, signaling demand for investment products linked to XRP. Both of these developments are seen as key drivers of the new growth momentum.
However, experienced analysts and market experts still advise caution. A breakout from the flag pattern could fail, leading to strong corrections; some commentators point out that the nearby resistance levels and previous highs around $3.60 could limit upward momentum in the short term. If XRP loses the newly regained support level, a drop towards the $2.05–$2.20 range has been marked as a reasonable correction scenario before another bullish attempt.
In other words, a price of $11 is technically reasonable if momentum and institutional demand remain sustained, but it is not a certainty. But what are traders currently watching? They are waiting for confirmation: can XRP hold above the breakout zone and build momentum on a weekly basis? A sustainable close above the recent resistance level would strengthen Martinez's argument.
They are also looking at volume. Significant volume when prices rise (and lack of volume when prices rise) will be considered a reliable signal or warning. Moreover, any new comments from the SEC, ETF approvals, or capital flows from institutions could accelerate or slow the upward momentum.
Ali Martinez's chart has reignited the debate about how far XRP can go in this cycle. With legal transparency now established and more tightly regulated products providing the pathways, the technical foundation for a multi-dollar bullish move is stronger than a few months ago. However, the path to double-digit prices requires a series of confirmations: higher highs, volume support, and continuous institutional participation.