Analyst Ali Martines noted on the weekly chart that XRP broke out of a bullish flag pattern, which could pave the way for a significant rally. This formation, forming from the end of 2024 to mid-2025, followed a previous price surge and represents a phase of consolidation before the next upward segment. The breakout occurred near the range of $2.25–$2.30, slightly above the Fibonacci correction level of 0.786. After this, XRP rose to $3.40 before entering a brief consolidation. On the evening of August 10, the cryptocurrency traded around $3.23, holding above the breakout zone and maintaining its bullish structure. Using Fibonacci extension levels, Martines forecasts two key growth targets: $5.75 at the 1.272 level and $11.20 at the 1.618 level. The latter target serves as a long-term goal while maintaining bullish momentum. A breakout in conjunction with the current upward trend suggests that XRP could experience one of the largest rallies in recent years, as both prices will lift XRP above its historical maximum. Essentially, if the breakout continues and buying pressure remains, XRP could surpass double-digit values for the first time in its history.
The technical model indicating a target price of XRP at $11 is confirmed by other on-chain data. In particular, Martines noted that the MVRV ratio of XRP would signal a bullish condition. He observed that previous "golden crosses," when MVRV rose above its 200-day moving average, preceded increases of 630% and 54%. A repeat of a 54% increase would push XRP to the $5.10 level, while a rise of 630% would ensure a journey to $24, increasing the market capitalization to $1.44 trillion.$XRP
