 ▲ XRP (XRP) / AI-generated image |
XRP has completed a bullish flag pattern on its weekly chart after eight months of prolonged consolidation, signaling a historic surge toward $11 per token.
According to a March 7 report by crypto media outlet NewsBTC, digital asset analyst Luke stated on X (formerly Twitter) that a classic bull flag pattern has formed on XRP’s weekly chart. “Based on the height of the flagpole in this pattern, XRP’s target price is exactly $11,” Luke explained, adding, “Applying the Fibonacci 1.618 extension level suggests it could climb as high as $11.20.” If his projection proves accurate, XRP would mark a roughly 700% increase from its current price.
Luke also assessed that institutional investors have been quietly accumulating positions, indicating that a parabolic rally phase may be approaching. However, escalating military tensions between the United States and Iran have added downward pressure across the broader market, posing a short-term variable. In fact, XRP spot ETFs recorded net outflows of $6.15 million on March 5 and $16.62 million on March 6, reflecting a temporary decline in investor sentiment.
Other market experts have also pointed to the possibility of a short-term correction driven by geopolitical risks. Analyst CasiTrades warned that if XRP fails to break above the $1.67 resistance level, it could drop to as low as $0.87. Similarly, Egrag Crypto suggested that rejection at $1.55 could result in a pullback to $0.85. In contrast, analyst JB argued that the recent downturn has sufficiently filled demand zones, leaving little momentum for additional declines.
XRP now stands at a critical inflection point where macroeconomic uncertainty intersects with strong technical breakout signals. After an unusually long eight-month compression period, a successful breakout from this bull flag pattern could trigger volatility that exceeds market expectations. Investors are closely watching whether XRP can break through the resistance range between $1.50 and $1.70, as well as monitoring the return of institutional inflows, to gauge the timing of the next major upward cycle.
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