XRP Price Drops Despite Legal Victory: Analyst Predicts $11 Target

Despite Ripple’s recent legal win against the SEC, XRP saw a significant price drop in the past 24 hours, falling more than 4%. Market analyst Ali Martinez attributes this dip to the unexpected release of 1 billion XRP tokens worth over $3.28 billion on August 9th. This move, which occurred through three rapid transactions, likely pushed prices down temporarily, although Ripple’s CTO David Schwartz insists it was a routine process. Despite the short-term price decrease, Martinez believes XRP is poised for significant gains, predicting it could reach $11 in the coming months based on a breakout from a bullish flag pattern on the weekly chart.