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.
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.
The large-scale release triggered speculation, with some viewing it as a routine, scheduled escrow unlock. In contrast, others raised concerns about potential selling pressure in a market still recovering from recent volatility.
Overall, XRP’s recent bullish run was boosted by the conclusion of the Ripple and Securities Exchange Commission (SEC) case, which triggered a wave of capital inflows and pushed the asset to a new resistance level at $4.
This legal resolution has paved the way for possible institutional capital inflows, potentially through the launch of a spot exchange-traded fund (ETF) in the U.S.. As reported by Finbold, global interest in such a product has surged by over 730% in the past month.
XRP price analysis
At press time, XRP was trading at $3.27, up 0.8% in the last 24 hours, and nearly 10% higher over the past week.
Currently, XRP’s main focus is to hold the $3 support for a realistic chance to reclaim the $4 resistance, with the immediate barrier remaining at $3.50.
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