XRP Price Breaks 7-Year Double Bottom Pattern, Eyes $36 Target
The XRP price has broken out of a 7-year Double Bottom pattern, indicating a potential long-term rally. Analysts suggest this breakout could lead to a surge toward $36, similar to the bull rally from 2014-2017.
XRP Price Targets
- Successful retest of the Double Bottom pattern supports bullish momentum.
- Analyst Gert van Lagen indicates potential to clear the all-time high of $3.84.
- Initial target set at approximately $36 based on Fibonacci Extension levels.
- Current momentum suggests a multi-month or possibly multi-year climb for XRP.
Comparison with Ethereum's 2017 Breakout
- Analyst ‘Shibo’ compares XRP's current behavior to Ethereum’s breakout in 2017.
- Similar technical progression observed with an extended consolidation phase followed by a decisive breakout.
- Forecasts indicate a potential price target of $589 for XRP, representing an increase of 18,084%.
