XRP to $11? Looking into what’s next for altcoin after 12% weekly hike – BitRss

• XRP surged by 12.91% over the last 24 hours
• Analyst believes a move to $11 may be likely if the altcoin breaks out beyond $2.73

Since declining to a low of $2 four days ago, XRP has made considerable gains on the charts. In fact, the altcoin climbed to hit $2.5 for the first time in 2 weeks thanks to these gains. However, despite pulling back slightly and trading at a price of $2.45 at press time, the altcoin still saw weekly gains of almost 13%.

And yet, XRP is still struggling to break out of its consolidation range. These prevailing market conditions have left analysts talking about the altcoin’s next move.

According to popular crypto analyst Ali Martinez, for instance, a potential pullback to $2.05 or a rally to $11 may be next, with Ali citing the $2.73 resistance level.

Assessing the market sentiment

In his analysis, Martinez observed that XRP is still consolidating within the pennant of a massive bull pennant pattern on the charts.