Crypto analyst Gert van Lagen forecasts a significant XRP price surge, suggesting the altcoin could reach $38.
XRP Technical Analysis
Gert van Lagen provided a detailed two-week technical analysis indicating bullish momentum for XRP. Key bullish patterns, including a 7-year Double Bottom and an Ascending Triangle, suggest a potential cryptocurrency breakout.
Significance of Patterns for XRP
The Double Bottom pattern, which formed between 2014 and 2020, indicates a reversal from a downtrend to an uptrend. XRP breaking above a critical resistance level confirmed a bullish breakout, making the $38 target realistic. Van Lagen considers this projection conservative compared to past XRP rallies.
Ripple vs. SEC Case Conclusion
The Ripple community is optimistic after the conclusion of a five-year legal battle with the SEC. Positive market sentiment combined with legal clarity could help XRP reclaim its former glory and surpass its all-time high of $3.
Technical analysis and the conclusion of the lawsuit may facilitate a significant XRP price increase. Market optimism and expert forecasts fuel expectations of a potential rally.
