XRP is positioned for a potential rally toward $11 after breaking out of a bullish flag pattern on the weekly chart.
According to prominent cryptocurrency analyst Ali Martinez, XRP’s path to double-digit prices comes after the asset spent several months consolidating within a symmetrical triangle, he said in an X post on August 10.
XRP price analysis chart. Source: TradingView
Notably, XRP’s late-2024 rally led to a tightening between rising support and falling resistance, culminating in a July 2025 breakout above the triangle’s upper trendline. The token has since held above $2.60, indicating buyers have absorbed selling pressure and remain in control.
At the moment, the token faces major resistance near $5, matching the 1.272 Fibonacci extension. A clear break could open the path to the 1.618 extension and the $11 target.
XRP’s downward risk
However, the analysis warned that this outlook relies on XRP holding above its breakout zone. A retreat into the triangle could signal a false breakout, potentially driving prices down to Fibonacci retracement levels near $1.90 or even $1.15.
As things stand, XRP’s push toward $4 appears to have been derailed after Ripple moved a massive amount of the asset on August 9. Fear, uncertainty, and doubt (FUD) hit the community after the release of 1 billion XRP tokens from escrow.
Blockchain tracker Whale Alert reported three separate transactions, unlocking 500 million, 100 million, and 400 million XRP, with a combined value of about $3.28 billion.