The post XRP Could Rally to $11 Through Multiple Fibonacci Levels, Says Analyst Martinez appeared on BitcoinEthereumNews.com.

Martinez identifies $2.05 and $2.50 as key entry points for XRP Analysis suggests path to $11.80 through Fibonacci levels Downside risk remains at $1.50 support level As XRP shows resilience with a 4.39% recovery from its weekly low of $2.2129, the broader cryptocurrency market shows signs of stabilization. The token’s current price of $2.31, while modest in daily gains at 0.29%, reflects growing momentum as Bitcoin reclaims the $95,000 level after its recent pullback to $91,000. Understanding XRP Price Trajectory Ali Martinez’s technical analysis reveals a fascinating roadmap for XRP’s potential journey beyond $10. His examination of the 12-hour chart identifies a pennant formation that suggests two strategic entry points: $2.05 at the rising trendline’s lower boundary and $2.50 at the pattern’s breakout level. $XRP offers two potential entries. The first is the rising trendline of the pennant, at $2.05. The second is a breakout outside of the pennant, at $2.50. Regardless of your entry, the target remains $10! pic.twitter.com/chpPehzUq7 — Ali (@ali_charts) January 9, 2025 These levels gain particular significance as they align with historical price action and technical structure. The path to $11.80 involves a series of calculated steps through key Fibonacci levels, each representing significant technical and psychological barriers. The journey begins with breaking the formidable $3 resistance, a level that has contained price action for seven years. Success here could catalyze movement toward $4.70 (1.272 Fibonacci level), though Martinez anticipates a retest of $3.70 before continuation toward $6. However, traders must remain mindful of downside risks. Martinez acknowledges the possibility of a bearish breakdown from the current pattern, identifying $1.50 (0.618 Fibonacci level) as a crucial support level to monitor. This balanced analysis provides a comprehensive view of both opportunities and risks in the current market structure. Should XRP achieve the projected $11.80 target (1.786 Fibonacci…

---

Filed under: News - @ January 11, 2025 3:22 am