XRP Breakout Fuels $11 Forecast Amid Bullish Chart Setup

The recent rally in XRP has reignited optimism among investors, as the cryptocurrency signals a potential push toward the $11 mark. This surge in sentiment follows a decisive breakout from a long-standing technical formation that has held XRP in a tightening range for months.

For the better part of the past year, XRP has hovered within a symmetrical triangle pattern, characterized by alternating highs and lows converging into a narrower band. This type of technical formation often signals a significant move once a breakout occurs—and that’s exactly what happened in July. XRP finally surged past the triangle’s upper resistance line, setting the stage for what might be a powerful bullish continuation.

On the weekly chart, XRP recently climbed to $3.38 before pulling back slightly to around $3.22. This pause appears more like a consolidation phase than a retracement, suggesting the market could be gathering strength for the next leg upward. Key market analysts point to this structure—breakout followed by modest consolidation—as a bullish flag pattern, a classic setup that often precedes further rallies.

According to the Fibonacci retracement levels mapped from XRP’s last major upswing, the $3.40 level represents the initial obstacle. Surpassing this resistance could open up pathways toward significantly higher levels. The next substantial Fibonacci target sits at $5.75, and if momentum remains intact, the long-anticipated target of $11.20—aligned with the 1.618 Fibonacci extension—becomes a realistic possibility.

The strength of this bullish argument stems largely from the market’s ability to establish new support levels higher than previous resistance zones. The $2.25 range, once a firm ceiling, now serves as a crucial floor and aligns with the 0.786 Fibonacci level. If XRP manages to hold this support during any future pullbacks, the bullish setup remains intact. However, a drop below this zone could dampen sentiment and lead to a retest of lower levels such as $1.63 or even $1.29.

Market watchers are now closely observing XRP’s ability to overcome the $3.40 barrier with convincing volume. Should this happen, the narrative surrounding the $11 target could shift from speculative to probable. Volume confirmation plays a vital role here; a breakout with low volume might lack sustainability, while one with strong volume would underscore genuine market strength.

The broader crypto space also seems to be paying attention, with social media buzzing about XRP’s new trajectory. The consistent compression followed by breakout behavior is being interpreted by many traders and analysts as textbook confirmation of strength. Current patterns imply a measured approach, as price action consolidates before the next push.

For those navigating the digital asset market, XRP’s current setup offers a clear roadmap—provided critical levels hold. Breaking past $3.40 with solid backing could propel it to new heights, unlocking levels that haven’t been seen before. Yet, caution remains warranted. If the $2.25 support falters, the bullish scenario may need reevaluation.

As always in crypto markets, volatility is to be expected. Still, XRP’s present structure suggests the token is in a strong position, technically speaking, to capitalize on bullish momentum. Investors are now watching to see if the next wave will usher XRP closer to the much-discussed $11 milestone.

XRP price

triangle pattern

$3.38

Ali

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