XRP News Today: XRP Poised for 1,600% Gain as Double Bottom Pattern Holds

XRP, the cryptocurrency, is poised for a significant upward movement following a retest of a critical resistance level tied to a long-standing technical formation. According to Dutch technical analyst Gert van Lagen, the asset’s price behavior continues to validate a bullish setup that has developed over the course of several years.

Van Lagen previously identified a double bottom formation on XRP’s two-week chart, a pattern typically associated with a trend reversal. This technical structure has been forming over seven years and appears to be approaching a key phase. In double bottom patterns, two significant price lows occur at similar levels, with a peak between them, forming a “W”-shaped structure. A sustained move above the peak, or neckline, generally signals a breakout, while a subsequent retest of this level can confirm support for a new upward trajectory.

For XRP, the first major bottom occurred in March 2020, following a prolonged decline from the all-time high of $3.80 in January 2018. The asset bottomed at $0.1140, then recovered to $1.96 in April 2021, forming the peak between the two troughs. The second low took place in June 2022, when XRP dropped to $0.2870 in the aftermath of the Terra ecosystem collapse. From there, XRP began to climb again, reaching the $2 range by December 2024. This established the neckline of the pattern at the $2 mark. The asset briefly surpassed this level in December 2024 and continued climbing to $3.40 by January 2025. However, it faced resistance and retraced back to the $2 level, where it has since remained. This return to the neckline is consistent with the expected behavior of a double bottom pattern and may indicate a setup for further gains.

Van Lagen has set a price objective of $38 for XRP, citing this level as a realistic outcome of the current formation. At the time of analysis, XRP was trading around $2.23, meaning the projected price represents an increase of over 1,600%. The analyst emphasized that this estimate is not overly optimistic, noting that XRP has shown the capacity for stronger rallies in past cycles. A comparable pattern occurred between late 2013 and early 2017, when a similar double bottom led to a rapid and substantial price increase. Although that earlier formation developed over a shorter period, the post-breakout surge was notably more aggressive.

Van Lagen is not alone in forecasting higher prices for XRP. In February, market analyst EGRAG also projected a move toward $34. Meanwhile, financial commentator Linda Jones has suggested that XRP’s long-term price cycles could support a rally to $33. The common thread among these analyses is the importance of XRP holding the $2 level as support. As long as this price point is maintained, technical indicators suggest that XRP could be positioned for significant upward movement, with $38 cited as a potential milestone in the coming bullish phase.