XRP Consolidates Near Multimonth High as Analysts Suggest Possible Rally Toward $10

Key Points

1. XRP's recent price action has formed a bull pennant pattern on the 4-hour chart, suggesting a potential breakout toward $4.20.

2. The resolution of Ripple’s SEC lawsuit, which concluded with a $50 million fine and clarity that XRP is not a security, has been a pivotal catalyst for its price momentum.

3. Analysts project XRP could reach $5 to $8, supported by technical indicators like the MACD crossover on the weekly chart.

4. The XRP Dominance Index (XRP.D) suggests a breakout above 5.50% resistance could signal a rally toward $7 to $10, contingent on market conditions.

5. XRP's market capitalization has surpassed $210 billion, securing its position as the third-largest cryptocurrency by market cap.