$XRP Price May Surpass $10 as Utility Narrative Continues to Grow

A recent technical analysis of XRP by Crypto Patel has sparked interest among investors and analysts alike. According to the analyst, the cryptocurrency's long-term structure is beginning to resemble earlier phases that preceded sharp price movements.

The chart structure reflects a transition from a prolonged downtrend into a consolidation phase, with a strong upward move to the resistance area around $3 in November 2024. However, bulls failed to push above this supply zone, forcing a 61% price pullback to the current level.

Despite the recent decline, the analysis notes that XRP's utility remains a key factor in its bullish narrative. The asset has strong positioning within the global settlement infrastructure and plays a crucial role in Ripple's payment business.