Is $10 XRP Price Technically Possible in 2024?

Technicals show that a bullish case for the XRP price can be made. On the weekly chart, the coin has recently made a bullish breakout above $0.9351, its highest level on June 10. This was an important level since it was the neckline of the slanted triple-bottom pattern. Ripple price has also formed a golden cross as the 50-day and 200-day moving averages have crossed each other, while the Average Directional Index (ADX) has pointed upwards. Therefore, the next resistance level to watch will be at $1.97, its April 2021 high followed by its all-time high of $3.54. A break above the all-time high will increase the odds of the coin soaring to the psychological important level at $5. If bulls clear $5, then a move towards $10 will be possible.

XRP needs to rise by almost 800% from the current level to $10. As such, with the year having 41 more days to go, this will be an uphill task to accomplish. The most probable targets for the year will be at most $5, which is a big move from the current level. The bullish view will become invalidated if the coin drops below the psychological level at $0.50, which also coincides with the ascending trendline.

Crypto analysts are also optimistic that XRP price is primed for a strong bullish breakout in the near term, with some expecting it to get to $10. One of the most bullish cases has been that the coin has formed a seven-year bullish pennant, which is characterized by a long flag pole and a symmetrical triangle pattern. In most periods, this pattern leads a strong bullish breakout. In an X post, Crypto Michael, a popular analyst with 55k followers, noted that he was fascinated by Ripple’s seven-year bullish pennant pattern.