Ripple (XRP) price may undergo a correction before reaching $11. A well-known crypto market analyst has warned that if this digital currency fails to stay above a key resistance, a short-term price correction is possible. Despite predicting a short-term price drop, the analyst remains optimistic about the long-term outlook for XRP. In recent months, XRP has seen a significant increase in price, especially after Trump’s victory creating optimism in the market. Predictions suggest that this digital currency could reach $11. In this regard, Ali Martinez, a famous market analyst, has released a chart showing key price levels for XRP. He emphasized that this cryptocurrency is consolidating in an ‘ascending flag’ pattern and may retrace to $2.05 unless the $2.73 resistance is broken. The analyst suggested that after this potential correction, the XRP price could reach $11. Traders should be prepared for short-term fluctuations, although the long-term outlook seems positive. This warning about the XRP price correction aligns with the current market conditions as the deadline for Ripple’s first report submission in the Ripple and SEC case is approaching. Many experts believe that Gary Gensler, the current SEC chairman, will present this report before leaving his position later this month, which could significantly impact XRP’s price. Positive expectations for future developments in the crypto world, especially during the Trump presidency and the presence of pro-crypto Gary Gensler as the new SEC chairman, have strengthened positive sentiments in the market. Additionally, XRP is a key option for ETF issuance on the stock exchange this year. Therefore, analysts believe these developments could lead to a significant increase in XRP’s price, pushing it to new highs like $11. Another top analyst, EGRAG CRYPTO, even predicted that XRP’s price in the long term could even reach $27. On the instant digital currency price page, you can view the prices of all tokens and cryptocurrencies live and in real-time.
