XRP Price Completes Double Bottom, Eyes Rally to $19
Crypto analyst Bobby anticipates a potential rally for XRP, with predictions of reaching double-digit prices. Key points include:
- XRP has completed a macro double-bottom pattern over seven years, suggesting a future rally.
- The altcoin built support near the neckline of a W pattern and consolidated below the 1.618 Fibonacci extension.
- A breakthrough above $3.02 is crucial for initiating the rally, with targets at $4.7, $6.4, $7.4, and potentially $19.
- XRP ETFs could further drive prices between $8 and $13, possibly reaching $20.
Analyst Egrag Crypto warns that XRP must close above $3.13-$3.20 on the 3-day chart to maintain bullish momentum. Failure to do so might lead to a downturn, although he suggests this could eventually lead to significant gains.
As of now, XRP trades around $3, showing an increase in the last 24 hours according to CoinMarketCap data.
