Can XRP Price Break Its $3.66 Multimonth High?
XRP price paused after reaching a multimonth high of $3.66, driven by regulatory clarity and institutional adoption. The resolution of Ripple’s SEC lawsuit, which included a $50 million fine, confirmed XRP is not a security, contributing to bullish momentum. The launch of the ProShares Ultra XRP ETF and positive market sentiment increased XRP's market cap to over $210 billion, ranking it third among cryptocurrencies. XRP has formed a bull pennant pattern on the 4-hour chart, with a potential breakout target near $4.20. It remains above the 50-day EMA, and the RSI is neutral, allowing for further gains. Analyst Milkybull Crypto identifies a target of $5.32, with aggressive scenarios reaching $8. A confirmed MACD crossover signals a trend shift. However, the XRP Dominance Index is below a critical resistance level, which could limit gains. A breakout above 5.50% may lead to price targets of $7–$10, depending on market momentum.
