A recent analysis by crypto analyst CryptoPatel has put the spotlight on the potential for XRP to reach the $10 mark, based on a higher-timeframe chart that highlights the token's long-cycle accumulation trade. The prediction is not without its challenges, as it would require a significant increase in market value and a break above nearby resistance.
The current price of XRP near $1.40 and market capitalization of around $87 billion make this target ambitious, implying a circulating-market value above $600 billion. However, the chart analysis suggests that XRP may still be moving within a broader cycle structure where accumulation, retests, and sentiment compression can precede a larger directional move.
The key to achieving this target lies in defending major long-term structure if the market weakens again, with the analyst focusing on the $1.10 to $0.70 region as a crucial accumulation area. Recent trends also indicate that traders are looking for confirmation above resistance before treating the chart as bullish.