XRP, the cryptocurrency behind Ripple Labs, is turning heads as it shows signs of a bullish breakout. With a promising price pattern forming on its daily chart, some experts believe the token could be on the verge of a significant rally. One analyst, Ali, recently took to X (formerly Twitter) with a bold prediction: XRP might climb as high as $11 in the near future.

What’s Behind the Buzz?

According to Ali, XRP is currently consolidating in a pattern known as a bullish pennant—a setup that often precedes big price moves. Right now, the price is stuck in a tight range, facing resistance at $2.73.

Here’s the catch: before XRP can break through this level, it could first dip to $2.05. However, if it manages to close above $2.73, Ali believes the stage would be set for a powerful rally that could take XRP all the way to $11.

XRP is still consolidating within a massive bull pennant. Until the $2.73 resistance is broken, a pullback to $2.05 is possible—but if it breaks out, $11 is within reach!” Ali posted.

Where Does XRP Stand Now?

Currently, XRP is trading around $2.42, down 1.5% over the last 24 hours. At the same time, trading volume has dropped by 25%, suggesting that investor activity has slowed despite the optimism around its potential breakout.

What’s Next for XRP?

Analysts at CoinPedia point out that XRP has already broken out of a bullish flag pattern and is now retesting a critical support level near $2.40. If it holds steady here and closes above this level, it could reignite the bullish momentum.

If XRP manages to stay above $2.30, the analysts believe it has the potential to surge by 40%, pushing its price to $4.50 in the coming weeks. Still, the key to unlocking its full potential lies in breaking through the $2.73 resistance.

For now, all eyes are on XRP as it hovers in this crucial price range. Whether it pulls back or pushes forward, the next few days could be pivotal for its trajectory. Keep an eye on the $2.30-$2.73 zone—it might just hold the answer to whether XRP can achieve these ambitious targets.