Will XRP Price Break Key Resistance and Soar to $10?

XRP price has caught the attention of market players with its recent movement, making analysts and investors watch for its future upward trajectory.

An inverse head and shoulders pattern has shown that the crypto has the potential to break key resistance points for a surge.

XRP Price Bullish Potential Amid a Bullish Pattern

Ali Martinez, a crypto analyst, pointed out that XRP price has shown bullish momentum through an inverse head and shoulders formation on its charts. Historically, this pattern has shown that bearish trends are about to end, so the price could move upward in the future.

The pattern includes a left shoulder followed by a head and a right shoulder as the price moves toward the neckline resistance, currently standing at $2.50.

Consequently, the formation requires the crypto price to break through this essential resistance zone at the neckline before validating an uptrend.

The analyst has predicted that XRP may reach a price target of about $2.70 following a successful break past its current resistance level at $2.50.

A successful breakout may demonstrate the bearish trend’s conclusion, allowing the token to start a bullish price movement.

XRP Reaches Key Price Levels and Predicted Rally to $10

More so, XRP achieved key price levels that analyst Fefe predicted. This has strengthened Fefe’s anticipation about a potential surge. The analyst has also predicted that XRP may increase to $10 after consolidating at specific levels.

Notably, when XRP reached the $2.20–$2.40 areas, it pulled back slightly, yet the analyst believed this moment was essential for the upcoming large price increase.

In addition, the price correction has allowed XRP to strengthen its support level between $1.40–$1.70. The analyst has indicates that XRP may begin an upward momentum toward the $10 mark after staying above its support zone. 

The predicted surge is fueled by both technical factors and market sentiment, which continues to favor riskier assets as investors seek higher returns.

XRP Market Sentiment and Recent Developments

Moreover, XRP is increasing in popularity at a time when the cryptocurrency has demonstrated potential for breaking above its current level.

Recently, Sal Gilbertie, CEO of Teucrium, stated that XRP is the cryptocurrency that offers the most practical applications. His remark emphasized the many practical uses XRP provides to demonstrate its impact within real-life scenarios.

Consequently, the prominent financial sector figure’s endorsement has generated more market discussions about XRP and its continued growth potential in the cryptocurrency market.

Notably, Paul Atkins was sworn in as the SEC chair, where he dedicated to creating clear regulations for the cryptocurrency sector.

As a result, XRP could benefit from Paul Atkins’ dedication to resolving regulatory problems, as it encountered major regulatory issues before. The move is seen as a potential step toward a more defined and favorable crypto regulatory landscape.

XRP Price Action

Meanwhile, XRP price has demonstrated considerable bullish strength following an 8.23% price increase during the previous 24 hours and a 9.43% boost during the last week that pushed its value to $2.27.

XRP price is showing growing market activity as the trading volume reached $5.55B. The anticipated price movement may likely challenge multiple resistance levels starting from $2.30 as it advances toward higher points.

Further supporting a bullish outlook, recent analysis highlighted XRP price entry into Phase D of the Wyckoff Accumulation pattern, signaling a potential breakout beyond $4.

With strong trading volume in South Korea, a golden cross in the altcoin market, and rising futures data, XRP appeared primed for a rally. ETF rumors and growing institutional interest add further fuel to the bullish narrative.

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