XRP Price Predictions Surge to $11: Bull Triangle Pattern Prompts Hope

After months of consolidating within a bullish triangle pattern, XRP price is showing signs of breaking out and hitting the coveted $11 mark. The recent surge has experts eyeing the potential for significant growth. 📈

On the weekly chart, XRP has been confined to this triangular formation since late last year. A breakout in July propelled the cryptocurrency beyond its upper boundary, reaching a high of $3.38 before easing back to the current price of around $3.22. This seems more like a pause than a reversal.

Based on the Fibonacci map of the latest rally, the key hurdle is at the $3.40 area, where the 1.0 extension lies. Overcoming this with confidence could propel XRP to $5.75 before even considering its ambitious target of $11.20 at the 1.618 extension.

However, a major risk lies in the $2.25 zone. This former resistance now acts as support, situated around the 0.786 Fibonacci retracement level. If this support is breached, it could signal a potential reversal and result in a retest of $1.63 or even $1.29.

The market is closely observing whether XRP can consolidate above its recent breakout and then make a strong push through $3.40. A surge with substantial volume would significantly boost the bullish outlook, potentially shifting the conversation towards a realistic $11 price target.

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