XRP price has paused at $3.66 after recent highs due to regulatory clarity and institutional adoption. The resolution of the SEC lawsuit with a $50 million fine has boosted momentum. The ProShares Ultra XRP ETF launch and bullish market sentiment have propelled XRP’s market cap to over $210 billion, ranking it third among cryptocurrencies.

XRP is in a classic bull pennant formation on the 4-hour chart, eyeing a potential breakout to $4.20. Holding above the 50-day EMA and with RSI in neutral territory, XRP shows bullish bias and room for further gains.

Market analyst Milkybull Crypto predicts XRP could reach $5-8, citing a comparable pennant structure. A 1.618 Fib extension target at $5.32 and a confirmed MACD crossover on the weekly chart support the bullish outlook, with potential upper targets toward $8.

XRP dominance index is at 5.30%, below a critical resistance level of 5.50%. Analysts suggest breaking above 5.50% could double XRP’s price to $7-10, based on historical patterns. The XRP.D chart signals a potential breakout leading to significant price gains in the near future.

Read more at Cointelegraph: Can XRP Price Break Its $3.66 Multimonth High?