Technical analysis indicates XRP has formed a significant bullish pattern suggesting potential for a substantial price increase reaching up to $11.20, contingent on breaking through critical resistance thresholds.
The cryptocurrency recently tested the $3.38 level but subsequently consolidated near $3.22, indicating a brief pause in upward momentum. For the uptrend to regain strength, analysts highlight $3.40 as the first crucial resistance that needs to be decisively overcome.
Beyond $3.40, the next major resistance resides at $5.75. These levels are potential stepping stones en route to the long-term technical target of $11.20. Technical assessments, incorporating triangle pattern dimensions validated by Fibonacci analysis, underpin this ambitious projection.
To sustain the bullish outlook, XRP must maintain price above the critical $2.25 support level. A decisive breach below this support would signal increased bearish pressure and potentially invalidate the positive pattern target.
While significant challenges remain at key resistance levels, successfully maintaining momentum and surmounting these barriers could plausibly enable XRP to approach the $11 target zone.