The post XRP’s $11 Price Target Explained Amid 1 Billion Token Unlock and Market Dip appeared first on Coinpedia Fintech News
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.
What’s Next For XRP Price? (Short-Term)
XRP has been moving exactly as expected, according to analysts, with a recent dip after hitting strong resistance at the $3.35–$3.40 range. This level also coincided with a large “fair value gap” left from late July’s bearish pressure, which has now been filled.
After the rejection at that resistance, XRP lost momentum and started dropping, pulled toward a lower support area between $3.15 and $3.08. This zone has both technical support and price imbalances that often act like a magnet for the market.
Fundamentals could also be influencing the drop. Next week is packed with market-moving events, including U.S. CPI inflation data on Tuesday and geopolitical developments like Russia–Ukraine peace talks. Investors may be de-risking ahead of this news.
In the short term, expect XRP to remain bearish, likely testing support around $3.10.
