XRP saw a sharp decline on Friday, reflecting a volatile week for the cryptocurrency.
In a tweet on Thursday, Gert van Lagen highlighted a potential breakout of XRP’s double bottom pattern, predicting that the cryptocurrency could rally to $10 in the current market cycle. It’s worth noting that his optimism is largely driven by the formation of a “double bottom,” a pattern that has historically led to significant price spikes for XRP.
To support his analysis, the analyst pointed to the periods between 2014 and 2017 when XRP prices surged by a staggering 25,000% in just five months after the pattern emerged. At the time, XRP was trading as low as $0.006 in April 2017 before peaking at around $1.50 by December.
In the current market, Van Lagen noted that XRP has formed a similar double bottom pattern between March 2020 and August 2022, suggesting that the cryptocurrency may be ready for another major bull run.
Legan's analysis was supported by Crypto Dump, another analyst who expects $XRP to hit triple digits by the end of this cycle, and in response to critics.
“They called us crazy when we said XRP would go to double digits, now they are charting XRP to triple digits. Trust the process,” he said confidently.
Ighrak also downplayed the recent price declines, describing them as “just noise” and asserting that such volatility is typical of $XRP within its current overall range. He noted that XRP is retesting the critical $1.90 low from December 10, which could complete a double bottom formation and set the stage for a potential rally. Ighrak emphasized that even if XRP temporarily dips below this level, it should not be considered a major concern.
Notably, in an analysis shared on Thursday, the analyst examined XRP’s Relative Strength Index (RSI), suggesting that the cryptocurrency could reach new highs by mid-2025. He also noted that XRP’s price behavior mirrors previous cycles, with a second peak likely to occur either in March or July 2025 around $90.
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