XRP on the way to $11? Analysis by Ali Martinez
XRP recently showed a strong surge, climbing to 4th place in market capitalization and touching the mark of $2.50. However, according to crypto analyst Ali Martinez, there are still hurdles to reach double digits.
Key points of the analysis:
* XRP is currently consolidating within a bullish pennant pattern.
* Strong resistance is at the level of $2.73. Breaking this level is critically important.
* If $2.73 is not reached soon, a pullback to $2.05 is possible.
* For a breakout of resistance, XRP only needs to rise by 12%.
Growth targets:
According to Martinez, a successful breakout at $2.73 could lead to the following targets:
* $2.91 (Fibonacci level 1.00)
* $4.73 (Fibonacci level 1.272)
* And ultimately, to an incredible $11!
⚖️ SEC Factor:
An important factor for further growth of XRP is the outcome of the court case between Ripple and the SEC. A victory for Ripple could be a catalyst for setting new price records.
