XRP, the native cryptocurrency of Ripple Labs, is capturing the attention of crypto enthusiasts worldwide. This digital asset has been exhibiting a promising bullish price pattern on its daily chart, sparking excitement and speculation in the crypto community. One prominent crypto analyst recently shared a bold prediction on social media platform X (formerly known as Twitter), suggesting that XRP could potentially hit the $11 mark in the near term.
Expert Bold Prediction for XRP
In a recent post on X, a well-known crypto expert highlighted that XRP is currently navigating a bullish pennant price action pattern. This pattern resembles the classic flag and pole formation, but is observed on the daily timeframe. As XRP consolidates, it finds itself constrained within a narrow trading range, facing significant resistance at the $2.73 level. According to the expert, before XRP can decisively break through this resistance, a temporary pullback to the $2.05 mark might occur.
However, the expert remains optimistic about XRP’s future prospects. Should the cryptocurrency manage to surpass the $2.73 resistance and close a daily candle above this level, the potential for a breakout becomes substantial. This could propel XRP to reach the ambitious $11 target in the foreseeable future.
Currently, XRP is trading at approximately $2.42, having experienced a slight decline of 1.50% over the past 24 hours. Additionally, the trading volume has decreased by 25%, indicating reduced participation from traders and investors despite the overall bullish sentiment.
XRP Price Prediction and Upcoming Levels
Technical analysis from CoinPedia provides further insights into XRP’s price trajectory. According to their assessment, XRP has already broken out from a bullish flag and pole pattern, although it is presently retesting the breakout level around $2.40. If the asset maintains this level and closes a daily candle above it, it could signal renewed bullish momentum.
Furthermore, if XRP manages to hold above the $2.30 mark, there is a strong possibility that it could surge by over 40%, reaching the $4.50 level in the future. This potential upside demonstrates the significant opportunities that lie ahead for XRP, contingent on its ability to overcome key resistance levels and sustain its upward momentum.
As the crypto market continues to evolve, XRP remains a key player to watch. Investors and enthusiasts alike are eager to see how this digital asset will perform in the coming days and whether it can achieve the ambitious targets set forth by experts and analysts.
