XRP must overcome a 158% rally to reclaim the $3.66 monthly resistance level before a speculative $60 price target can be considered viable by technical analysts.
XRP is currently the subject of a speculative $60 price projection derived from a decade-long ascending triangle chart pattern. However, this target is strictly conditional, requiring the asset to first achieve a monthly close above the $3.66 resistance level, a feat it has never accomplished despite multiple attempts.
XRP must close a full calendar month above the $3.66 resistance level.
Yes, XRP has traded above $3.66 intraday, such as in January 2018, but it has never achieved a monthly closing price above that threshold.
It is a technical chart formation characterized by higher lows and a flat resistance ceiling, often interpreted as building buying pressure toward a potential breakout.
XRP currently trades at $1.42, requiring a 158% gain to reach the $3.66 resistance level necessary to trigger a speculative $60 price target. While a decade-long ascending triangle pattern suggests potential for a breakout, the cryptocurrency has never achieved a monthly close above the $3.66 threshold, making the long-term projection highly conditional.
It serves as the flat resistance ceiling for a decade-long ascending triangle pattern; a monthly close above this level is required to technically validate the $60 price projection.