XRP Gains 1% Today, 5% Weekly Amid Bullish Reversal Pattern

XRP has been in an oversold position for over two months, with the coin overdue for a significant rebound. The altcoin has posted a 1% gain today, rising to $2.09, while the broader crypto market has lost 1% in the past 24 hours. Despite the market's decline, XRP has shown a 5% increase over the past week, although it is down by 9% over the past month. However, it retains an impressive 320% increase over the past year.

What is particularly bullish about XRP's recent movements is the formation of a double-bottom reversal pattern on its chart. This pattern suggests that the coin could be breaking out, as two recent dips have formed a 'neckline' that acts as a resistance level. If XRP breaks through this resistance level, it raises the probability of a significant breakout.

XRP's one-hour chart shows that it successfully pulled off a double-bottom reversal last week and has been on a relative uptrend since. However, the past few days have seen a weakening in momentum, with XRP’s relative strength index (RSI) dropping from 80 last week to 50 today. Despite this, XRP’s one-day chart indicates that the altcoin has been in an oversold position since early February, suggesting that it is due for a rebound.

The bull case for XRP remains strong, given that the Ripple-SEC case has recently taken decisive steps towards resolution. Additionally, the market is awaiting decisions from the SEC on 10 XRP ETFs, the highest number of any altcoin. If these ETFs are listed in the US this year, the effect on the XRP price could be substantial. However, XRP will need more favorable macroeconomic conditions, such as rate cuts or the removal of tariffs, to truly take off. If these conditions align, XRP could easily reclaim previous highs and potentially reach $3 by the second half of the year, ending 2025 at $4.

While XRP's fundamentals remain strong, holders may need to wait for ETF listings and macroeconomic improvements before seeing significant gains. In the meantime, diversifying into newer tokens, which can sometimes greatly outpace the market even during bearish phases, may be a strategic move. One such token is SUBBD, an ERC-20 token that launched its ICO a couple of weeks ago and has already raised $180,000 in its presale. SUBBD is the native token of an adult-oriented content creation platform that harnesses AI-based tools to make content creation more efficient for users. Its use of blockchain technology helps creators monetize their content in a more transparent and efficient way, with features such as NFT issuance and smart contract payouts.