XRP to $11? Big Price Move Underway, Says Analyst

XRP to $11? The cryptocurrency XRP has been catching the attention of analysts and traders, with bullish predictions emerging from the community. One such analyst, Ali Martinez, recently shared technical analysis suggesting positive movement for XRP, generating excitement among the cryptocurrency community.

When assessing the recent price action of Ripple's native token, the expert observed on the XRP chart an indicator that is currently signaling a major price movement is underway. “Bollinger Bands are compressing on the $XRP daily chart, indicating a major price movement is underway!” he wrote.

Source: TradingView/Ali Martinez

in another analysis , Martinez suggested a potential explosion in the price of XRP to a whopping $11, which would take the token to new heights, setting a new all-time high and breaking a record that has stood for almost 7 years. The highest price paid for XRP (XRP) was $3,40, recorded on January 7, 2018.

“As we approach 2025, $XRP is showing one of the most promising setups with a projected target of $11,” the analyst highlighted.

Source: TradingView/Ali Martinez

At the time of publication, the price of XRP was trading at $2,10, up 2.3% in the last 24 hours. In comparison, the current price is 38,60% lower than its all-time high.

XRP (XRP) trading volume is $6.650.592.125 over the past 24 hours, representing a 29% increase from a day ago and signaling a recent surge in market activity.

XRP on the Verge of an Explosion? Analyst Says Chart Is “Absolutely Fantastic”

XRP on the Verge of an Explosion ? CredibleCrypto, a trader with considerable influence in the crypto space, expressed his optimism regarding XRP when paired with Bitcoin. He described XRP’s chart as “absolutely fantastic,” indicating a strong belief in its future appreciation. The analyst even revealed his plans to open a long position on XRP in the coming days, demonstrating confidence in his own analysis.

The technical analysis presented by CredibleCrypto suggests a possible initial downward movement before a significant bounce of at least 65%. This prediction is based on the observation of a specific chart pattern: an inverse head and shoulders pattern, visualized on the one-hour chart. For those unfamiliar, this pattern is considered a bullish signal in technical analysis, indicating a potential trend reversal from bearish to bullish.