XRP, the native token of Ripple Labs, seems to be attracting significant attention from cryptocurrency enthusiasts as it has formed a bullish price action pattern on its daily timeframe. In light of this bullish outlook, a well-known cryptocurrency expert posted an article on X (formerly Twitter) in which they made a bold prediction that XRP could reach $11 in the coming days.
Expert's bold prediction for XRP
In a post on X, the expert notes that XRP is currently consolidating in a bullish flag price action pattern, resembling a flag and pole pattern on the daily timeframe. During this consolidation, the price seems to be stuck in a narrow range and is facing resistance at $2.73.
The expert emphasizes that before XRP breaks this resistance level, there is a high likelihood that it could return to the $2.05 mark. Additionally, if the price of XRP continues to break through the resistance and closes the daily candle above $2.73, it is highly likely that it could surge significantly to reach $11 in the future.
In addition to this bold prediction, XRP is currently trading at around $2.42 and has decreased by 1.50% in the past 24 hours. During the same period, its trading volume has dropped by 25%, indicating lower participation from traders and investors amidst a bullish outlook.
XRP price prediction and upcoming levels
However, CoinPedia's technical analysis shows that XRP has broken out of the flag price pattern and bullish pole, but is currently retesting the breakout level of $2.40. Based on recent price action, if the asset holds this level and closes the daily candle above it, it could signal the next bullish momentum.
Based on recent price movements, if this altcoin holds above $2.30, it is highly likely to surge over 40% to reach $4.50 in the future.
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