XRP News Today: XRP Analyst Forecasts $11.61 Target Amid Bullish Fibonacci Breakouts

A crypto analyst has outlined a bullish roadmap for XRP, forecasting an “ideal” price target of $11.61 during the current bull cycle. This projection, based on a unique analysis of XRP’s market dominance and key Fibonacci levels on the monthly chart, suggests that the altcoin could see significant upward movement if it clears critical price thresholds [1].

The analyst’s methodology centers on the XRP market dominance indicator as a key technical analysis tool. He identified the 0.5 Fibonacci level as the first major hurdle for XRP, which corresponds to a price of $5.92. A successful break above this level, with confirmation, would signal the next target at the 0.618 Fibonacci level, translating to $8.87 [1].

Even if XRP reaches $8.87, the analyst argues that this resistance is not robust enough to halt the bullish momentum. He anticipates that the price will continue to rise, potentially reaching the $11.61 level, which he labels as the “ideal” peak for XRP in the current bull cycle [1].

Furthermore, the analyst outlined a more aggressive scenario in which XRP could break through the 0.702 Fibonacci level at $11.61 and continue its climb. In this case, the next target would be the 0.888 Fibonacci level, which aligns with a price of $21.50. The analyst considers this level particularly significant, suggesting that a move beyond it could trigger a rapid and substantial price surge [1].

This analysis is supported by strong fundamental developments, most notably the recent resolution of the long-standing legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC). The settlement has provided a clear legal tailwind for XRP, reinforcing investor confidence and catalyzing upward price movement [1].

At the time of the analysis, XRP was trading at $3.34, indicating that while the path to $11.61 is ambitious, it is not outside the realm of possibility given the current momentum and favorable on-chain signals. The analyst’s forecast hinges on XRP maintaining its bullish trajectory and successfully navigating key resistance levels [1].

Source: [1] XRP Price “Ideal” Target is $11.61: Analyst Lays Out Path (https://coinedition.com/xrp-price-prediction-ideal-target-11-this-bull-cycle/)