XRP surged to a four-month high near $3 on July 11, marking a 25% weekly gain as it traded around $2.78-$2.96. Analysts cite a decisive breakout from a multi-year symmetrical triangle pattern and a confirmed double-bottom reversal on 3-day charts, targeting $4.50 short-term. Ali Martinez projects a potential rally to $17 if XRP achieves a weekly close above $3, though he plans profit-taking at $6 without confirmation. Javon Marks forecasts a 75% surge to $4.80, contingent on holding $2.47 support.
On-chain data reveals record whale accumulation, with 2,743 addresses holding over 1 million XRP each (47B+ coins total). Derivatives markets reflect bullish sentiment: Binance's long-short ratio exceeded 2:1, futures open interest rose 14% to $7.3B, and options interest spiked 522%. Technical indicators show XRP above all key moving averages, with RSI nearing 80 (overbought), suggesting possible short-term consolidation. Critical levels include $3 resistance for upward continuation and $2.60 support to maintain bullish structure.