XRP jumped into the spotlight today after crypto chartist Ali Martinez flagged a decisive breakout from a weekly bull-flag pattern and put a $11 price target on the table. It is a call that has lit up social feeds and trader chatrooms. Martinez shared the chart and a tweet saying, “XRP targets $11 after breaking out of a bullish flag on the weekly chart,” a forecast now being echoed across market commentary.
The market responded: XRP has been trading roughly in the low-$3 range after a strong run in recent weeks. As of this writing, XRP is trading around $3.18 after a weekly surge of 11%, having spiked on the news and broader industry catalysts. That rally has also been accompanied by increased volume as traders price in both technical momentum and fading regulatory overhang.
Why the Excitement?
Martinez’s thesis is textbook technical analysis: a steep flagpole followed by a tightening pennant/flag, and then a breakout on the weekly timeframe. It is a pattern that, if valid, projects a large measured move. Several experts summarizing his analysis note the same calculated target levels using Fibonacci extensions and the pattern’s height to derive $8–$15 targets, with $11 presented as a conservative scenario.
The technical setup isn’t the only tailwind. Market structure shifted markedly this month after the long-running SEC litigation with Ripple came to a formal end, with the parties withdrawing appeals and a court-imposed settlement confirmed, a development that removed a major legal overhang for XRP and helped fuel buying interest.
At the same time, issuers have been moving on ETF products tied to XRP exposure: ProShares launched leveraged XRP ETFs earlier in July, signaling demand for regulated XRP-linked investment vehicles. Together, those two developments have been cited as key drivers behind the renewed momentum.
That said, analysts and market veterans are urging caution. Breakouts from flag formations can fail and sharp retracements follow; several commentators point to nearby resistance and previous tops near $3.60 that could cap upside in the short term. If XRP were to lose the newly reclaimed support, downside to near $2.05–$2.20 has been flagged as a plausible corrective scenario before another attempt higher.
In other words, the $11 call is technically plausible if momentum and institutional demand persist, but it is not a foregone conclusion. But what traders are watching now? They are waiting for confirmation: can XRP hold above the breakout zone and build weekly follow-through? A sustained close above recent resistance would strengthen Martinez’s case.
They are also looking at volume. Meaningful volume on advances (and a lack of it on rallies) will be read as either conviction or a warning sign. Moreover, any new SEC commentary, ETF approvals or institutional flows could accelerate or blunt the move.
The chart from Ali Martinez has reignited a debate over how far XRP can run this cycle. With legal clarity now in place and more regulated products providing on-ramps, the technical case for a multi-dollar move is stronger than it was months ago. Still, the path to double-digit prices requires a series of confirmations: higher highs, volume support, and continued institutional participation.
