They Called XRP Dead in 2023, Now $10 Is Closer Than You Think: Analyst

XRP has a history of moving against market sentiment, and that pattern is again showing signs of repeating, this time targeting uncharted territory.

Analysis from Crypto Patel highlighted that the XRP long-term structure is beginning to resemble earlier phases that preceded sharp moves. With key support levels still intact, the commentator claims that $10 is closer than most people think.

Key Points

• The XRP long-term structure is beginning to resemble earlier phases that preceded sharp moves.
• An accompanying chart shows a broader accumulation area around $0.70 and $0.90, as well as a milder support zone near $1.20.
• Part of XRP’s bullish narrative comes from its utility in payment and its efficiency compared to Bitcoin and Ethereum.
• Short-term resistance remains near the $2-$3 range, while the long-term target is $10-$20.

Recurring Pattern of Price Expansion When Doubt Arises

Patel emphasized that earlier cycles show how quickly narratives can shift for XRP. In 2017, critics dismissed XRP when it traded near $0.006, calling $3 a “fantasy.” Yet it went on to rally 55,733% to $3.35 the following year. 

A similar dynamic appeared again in November 2024. Market watchers pronounced XRP “dead” in 2023 when the price traded around $0.5. Again, the coin moved against crowd sentiment, surging to $2.60 in 30 days.

It eventually rallied to $3.36 in January 2025 before reaching a new all-time high of $3.67 by July 2025 despite widespread skepticism.

Today, XRP is trading at $1.40, with price action hovering above a range that has served as support in recent months. An accompanying chart highlights a broader accumulation area around $0.70 and $0.90, where XRP previously consolidated before moving higher.

More recently, a higher accumulation region has formed near the $1.10 to $1.20 level, suggesting that buyers have continued to step in at elevated levels.

Price Structure Shows Accumulation and Breakout Setup

The chart structure reflects a transition from a prolonged downtrend into a consolidation phase. After breaking above a descending trendline earlier in November 2024, XRP entered a strong upward move to the resistance area around $3. Bulls failed to push above this supply zone, forcing a 61% price pullback to the current level.

However, XRP appears to be forming a base above previous resistance near $1.20, which is now acting as support. This type of behavior often indicates that an asset is sustaining upward momentum, forming higher lows rather than lower highs.

XRP Utility Narrative Shapes Bullish Outlook

Part of the bullish narrative in XRP comes from its utility, a feature Patel claims 99% still doesn’t understand. The asset has strong positioning within the global settlement infrastructure, playing a crucial role in Ripple’s payment business. 

Further, compared to Bitcoin and Ethereum, XRP is faster and has lower transaction costs, which has supported its use in cross-border payment systems. The analysis noted that banks are already using XRP globally, reinforcing its strengthening appeal.

That utility narrative has remained consistent even during periods of weaker price performance. A recent report highlighted that Ripple has over 13,000 bank connections and $12.5 trillion in payment volume. As an integral part of that system, this highlights XRP’s growing role in the global markets.

While adoption alone does not determine market value, it continues to influence how XRP is perceived within the broader digital asset landscape. The analyst noted that the tech is ready, the rails are in existence, and adoption is expanding, yet XRP still trades near $1.40.

XRP Price Outlook

The chart shows that short-term resistance remains near the $2-$3 range, where price has previously struggled to maintain momentum. A sustained move above that region would signal a stronger shift in market structure and could open the path toward higher levels over time.

Patel noted that $10 to $20 is absolutely possible once the breakout occurs, citing these levels as long-term targets. Based on the current market price, this would imply staggering growth of 614% and 1,328%, respectively.

While he talked up the prospects of a $100 valuation, the analyst deems it an overreach at this time.