XRP Primed for Explosive Rally: Double Bottom Breakout Signals $38 Target, Says Market Vet

XRP bulls are back in the driver's seat—technical analysis points to a potential moonshot after a textbook double bottom reversal.

Neckline smashed, targets set

The third-largest cryptocurrency by market cap just punched through a critical resistance level, triggering buy signals across trading desks. One seasoned analyst—who called three of the last two crypto winters—claims this could be the start of a 12x surge toward $38.

Chartology over hopium

While retail traders chase meme coins, the smart money's watching XRP's weekly chart. The double bottom formation—a classic reversal pattern—has only appeared six times in the asset's history. Each instance preceded gains exceeding 300%.

The fine print

Of course, this assumes Ripple doesn't get sued again by the SEC—or that the Fed doesn't nuke the economy with another 500bps hike. Welcome to crypto, where TA works until it doesn't.

XRP Double Bottom | Gert van Lagen Notably, this surge occurred during the November 2024 upsurge, as XRP rode on the market momentum from Donald Trump's victory to reach $2 in early November, completing the double bottom structure. However, amid this rally, XRP also breached the neckline at $2, leading to a decisive breakout. XRP Retesting Breakout The rally led to a peak of $3.4 by January 2025, but market forces introduced resistance in this region, pushing XRP below the $3 mark by February and resulting in a sustained consolidation that lasted for over six months. Nonetheless, despite this pullback, XRP held above the double bottom neckline at $2. This was an undeniable signal of strength. Notably, following breakouts like the one that happened in November 2024, the market often consolidates to retest the neckline and build up strength before the next leg up. Now, amid the latest market upsurge, XRP has pushed firmly above the $2 neckline region, and Van Lagen believes this is a sign of a much higher uptick. He suggested that XRP is set to resume its bull run "parabolically" after bouncing off the neckline of the double bottom structure. As a result, the market veteran sets a target of $38, which represents a 1,238% increase from the current price of $2.84. Besides van Lagen, other analysts have also predicted a run toward this price region. For instance, CryptoInsightUK predicted last December that XRP could rally to $35. Despite the audacious nature of the $38 target, van Lagen believes it is conservative. He cited a similar double bottom breakout from 2017, which led to more than 13,000% increase to $3.8 by January 2018. According to him, this run represented 2x the parabolic target.