XRP Double-Bottom Breakout Targets $34, Analyst Predicts
Analyst Gert van Lagen states that XRP has broken the neckline of a seven-year base, indicating a potential upward movement. Key points include:
- XRP's breakout above $2 confirms a double bottom pattern.
- Initial target set at approximately $34 based on Fibonacci extension.
- Current trading price is $3.14, below the 2018 all-time high of $3.40.
- Breakout-retest sequence suggests support remains strong above $2.
- Projected price path indicates possible peaks above $36 within six months.
Van Lagen's analysis compares the current pattern to the previous cycle from 2014 to 2017, expecting similar behavior over a larger scale.