In light of new information regarding the XRP market, analyst Gert van Lagen has pointed out the potential for significant growth of the token. In his analysis, he highlighted important technical signals and patterns that could indicate a bullish trend.
Seven-Year Formation Signals Long-Term Reversal
Gert van Lagen notes that XRP is exhibiting a rare double bottom pattern that has formed over the past seven years. This structure is considered one of the longest-standing bullish reversal patterns in the crypto market. Analysts suggest that, historically, when such long-term patterns confirm, they often lead to powerful upward movements, stemming from a surge in demand.
Breakout and Neckline Retest
A significant breakout occurred during the November 2024 rally, when XRP surged to $2 following the US presidential election events. This movement confirmed the long-anticipated breakout from the double bottom pattern. By January 2025, XRP peaked at $3.4, but faced growing resistance that prompted a consolidation phase. Importantly, throughout this stagnation, the token remained above the $2 neckline, validating the bullish model.
Bullish Signal Confirmed, $38 Target in Sight
Van Lagen interprets the current reclaiming of the neckline by XRP as a bullish confirmation, setting a target of $38, representing a 1,238% increase from the current price of $2.84. Other analysts have pointed to similar price targets, reinforcing expectations of a strong bullish trend. The convergence of long-term support, confirmed breakout, and strengthening bullish momentum suggests XRP could soon enter its most significant upward movement ever.
As market observers watch closely, the pressing question is whether XRP will sustain its rise and reach the anticipated multi-dollar price levels. The established bullish pattern and the support level of $2 create favorable conditions for potential significant growth of the token.
