XRP News Today: XRP Forms Double Bottom as Galaxy Digital Adds $34.4M to Holdings

XRP is drawing attention for forming a potential double bottom pattern, a classic bullish technical formation that could signal a reversal in the cryptocurrency's price trend. Renowned market analyst EGRAG CRYPTO has highlighted this possibility, noting that XRP must retest the $2.80 level to confirm the pattern. If successful, the move could mark one of the most bullish formations in crypto this year [1].

According to EGRAG’s analysis, XRP has recently established two key support levels around $2.81 and $2.91, with a critical neckline forming just above $3.00. A clean breakout above this level would validate the double bottom and potentially push the price toward resistance targets in the $3.15–$3.31 range. EGRAG also stressed the importance of maintaining price above $2.80 to sustain bullish momentum. He encourages investors to avoid fear-driven trading and instead remain patient and focused [1].

At the same time, Galaxy Digital, a major player in the crypto space, has significantly increased its XRP exposure. The firm’s Q2 2025 SEC filing revealed that it holds 15.39 million XRP, valued at $34.4 million, marking a strategic shift toward altcoins [2]. This is a notable change, as Galaxy held no XRP in its portfolio just six months ago. The move underscores a calculated and long-term investment approach rather than a speculative play [2].

Galaxy’s broader portfolio also underwent significant changes during the quarter. It reported 17,102 BTC, valued near $1.8–$1.95 billion, a sharp increase from Q1, while Ethereum holdings decreased from 155,000 ETH to approximately 90,500. Overall, its digital asset portfolio grew to $3.56 billion, up from $2.93 billion at the end of 2024, driven by both price appreciation and asset reallocation [2].

The firm’s decision to invest in XRP appears to reflect growing institutional confidence in the token, particularly as legal clarity surrounding Ripple continues to evolve. With more companies incorporating XRP into their treasury strategies, Galaxy seems to be at the forefront of this trend [2].

If XRP retests and holds above the $2.80 level, completing a double bottom, it could signal a strong technical reversal. A breakout above $3.00 might trigger short-term rallies toward the $3.15–$3.31 range, supported by EGRAG’s analysis and broader market optimism. XRP has already seen modest gains in line with Bitcoin and Ethereum, partly driven by expectations of Federal Reserve rate cuts and improved macroeconomic conditions [1].

Source:

[1] EGRAG CRYPTO, https://coinpaper.com/10404/xrp-eyes-double-bottom-formation-as-galaxy-digital-bets-big-with-34-m-move