XRP, the native token of Ripple Labs, seems to be gaining significant attention from crypto enthusiasts as it has formed a bullish price action pattern on its daily time frame. Amid this bullish outlook, a prominent crypto expert made a post on X (formerly Twitter) where they made a bold prediction that XRP could reach $11 in the coming days.
In a post on X, the expert noted that XRP is currently consolidating within a bullish pennant price action pattern, which appears similar to a flag and pole pattern on the daily time frame. Amid this consolidation, the price seems to be be stuck in a narrow range and is facing resistance at the $2.73 mark.
The expert highlighted that before XRP breaches this resistance level, there is a strong possibility it could pull back to the $2.05 mark. Additionally, if the XRP price further breaches the resistance level and closes a daily candle above the $2.73 mark, there is a strong possibility it could soar significantly to reach the $11 level in the future.
Besides this bold prediction, XRP is currently trading near $2.42 and has experienced a price decline of 1.50% in the past 24 hours. During the same period, its trading volume dropped by 25%, indicating lower participation from traders and investors amid the bullish outlook.
However, CoinPedia’s technical analysis suggests that XRP has already broken out from a bullish flag and pole price action pattern, but is currently retesting the breakout level of $2.40. Based on the recent price action, if the asset holds this level and closes a daily candle above it, it could signal further bullish momentum.
Based on the recent price action, if the altcoin holds above the $2.30 mark, there is a strong possibility it could soar by over 40% to reach the $4.50 mark in the future.
PEPE & Shiba Inu Face Uneven June PEPE experienced notable volatility in late June, rallying…
Cardano has officially surpassed 111 million transactions on its network, marking a major milestone for…
Something big is happening behind the scenes in the Bitcoin market. While most retail investors…
The Ethereum price is once again at the center of attention as a wave of…
Memecoin mania is showing signs of rotation: Bonk has surged ~6–7% to ~$0.000018 on strong…
In one of the biggest financial enforcement moves in its history, Singapore has fined nine…
