XRP Mega W Pattern Breakout Targets $3.3
Analyst EGRAG CRYPTO highlights an XRP mega W pattern forming since 2018. This double bottom structure has two multi-year round lows and a recovery that defines a clear neckline at $2.55. XRP broke above this key resistance in January, surging over 500% and confirming the XRP mega W pattern breakout. The confirmed XRP mega W pattern breakout sets an initial price target at $3.3. Traders should note the mega W pattern signals trend reversal and bullish continuation. Patience is advised as XRP enters a price discovery phase, with potential for further gains beyond $3.3 once broader market conditions align.
Bullish
Double bottom patterns like the identified XRP mega W pattern historically foreshadow strong bullish runs after a confirmed breakout. The multi-year structure and the decisive move above the $2.55 neckline in January validate this trend reversal signal. In the short term, traders can capitalize on the momentum toward the $3.3 target as buying pressure intensifies. Over the long term, breaking a multi-year consolidation band suggests sustained upside potential, especially if market sentiment remains positive. Similar setups in other assets have led to extended rallies once key resistance levels were cleared, reinforcing the bullish case for XRP’s ongoing uptrend.