Double-bottom pattern suggests XRP could rally to $2.5
Crypto analysts identify a developing double-bottom chart pattern for XRP that may signal an end to the token’s recent downtrend and a potential upside to $2.3–$2.5. Analyst Niels posted technical analysis highlighting two strong bounces from the same demand zone, an RSI that has bottomed out, and a fakeout below key support followed by a swift reclaim. He projects a rally to $2.3–$2.5 in the coming weeks if momentum and market conditions remain supportive. Independent analyst Broke Doomer concurs that seller momentum is weakening, support levels are holding, and XRP could first retake $2.20 then test $2.60 — with a possible extension to ~$3 if $2.60 is decisively cleared. At the time of reporting XRP traded around $1.91–$1.92, roughly 50% below its all-time high. Key keywords: XRP, double bottom, RSI, technical analysis, resistance, support, breakout.
Bullish
The article reports that multiple analysts have spotted a double-bottom pattern, RSI bottoming, and a reclaimed support after a fakeout — classic technical reversal signals. For traders, these indicators increase the probability of a short- to medium-term bullish move toward the $2.3–$2.5 targets cited. A confirmed double bottom with rising momentum and volume typically leads to a breakout that can produce rapid gains; Broke Doomer’s higher targets ($2.6–$3) follow the same logic if XRP clears near-term resistance. Short-term implications: higher buying interest, volatility spikes around breakout attempts, and defined trade setups (buy near support, target $2.3–$2.5, stop below recent lows). Risk factors include broader crypto market weakness, failure to sustain the reclaim of support, or lack of volume on rallies — any of which would negate the pattern and yield a bearish outcome. Historical parallel: similar double-bottom breakouts in altcoins (e.g., past XRP and ETH reversals) produced quick 20–50% moves when confirmed by momentum and volume. Overall, the technical setup favors a bullish classification but requires confirmation (higher highs, rising volume) before larger position sizing.