Macro strategist Gert van Lagen notes that XRP's price structure resembles a nearly seven-year double-bottom pattern. This article evaluates his forecasts and historical parallels.
Double Bottom and Fibonacci Extension
On the two-week chart, XRP has formed two distinct low points, creating a classic double-bottom base. The neckline was decisively breached and subsequently retested, fulfilling breakout criteria. Van Lagen estimates that the projected upward move based on Fibonacci analysis sets the first target near $34.
Historical Parallel: 2014–2017 Accumulation
Van Lagen's comparison to XRP’s accumulation phase from 2014 to 2017 highlights a long consolidation period followed by rapid growth. This phase ultimately led to a dramatic rally in 2017-2018. However, the current market context varies significantly in terms of liquidity, regulatory climate, and institutional engagement.
Risks and Market Dynamics
Short-term momentum may be gaining strength due to increased institutional interest. However, pullbacks are common, and macro shifts could negate bullish sentiments quickly. Analyzing van Lagen’s thesis emphasizes the importance of disciplined risk management.
Van Lagen presents a compelling technical case for XRP based on a confirmed multi-year double-bottom breakout. While the narrative is intriguing, the movement towards $34 remains conditional on trend sustainability.
