Begin by preparing the ingredients: peel and devein the shrimp, dice the onion, mince the garlic, and slice the bell pepper.
Heat the olive oil in a large pot over medium heat. Add the diced onion and sauté until translucent, about 3-5 minutes.
Add the minced garlic and sliced bell pepper to the pot, cooking for an additional 2-3 minutes until fragrant.
Stir in the red curry paste, ensuring it coats the onion and peppers evenly. Cook for 1-2 minutes, allowing it to bloom.
Pour in the broth and coconut milk, stirring until combined. Bring the mixture to a gentle simmer.
Add the shrimp to the simmering pot, cooking for 3-5 minutes until they turn pink and opaque.
Stir in the fish sauce and lime juice, tasting to adjust for seasoning and acidity.
Remove the pot from heat and garnish with fresh cilantro before serving.