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08/10 17:10

XRP’s $11 Price Target Explained Amid 1 Billion To

XRP’s $11 Price Target Explained Amid 1 Billion Token Unlock and Market Dip

XRP’s price has fallen more than 4% in the past 24 hours, slipping into the red even after Ripple’s legal win against the U.S. Securities and Exchange Commission (SEC). This drop surprised many investors, but market analyst Ali Martinez says there’s still strong upside ahead.

According to Martinez, XRP has broken out of a bullish flag pattern on the weekly chart — a setup that often signals a big move higher. Based on this breakout, he predicts XRP could climb all the way to $11 in the coming months.

The short-term decline seems to be linked to Ripple unlocking 1 billion XRP tokens worth about $3.28 billion on August 9. The move happened through three quick transactions, which was unusual compared to Ripple’s regular monthly schedule. 

While Ripple’s CTO David Schwartz explained that the unlock was a routine process, the sudden visible increase in supply appeared to push prices down temporarily.

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