XRP Double Bottom Reversal: $10 Next?
XRP rose 1% to $2.09 today while the crypto market fell 1% in 24 hours.
The altocoin is up 5% in a week, down 9 in a month, but up 320% in a year.
A double-bottom reversal pattern on XRP's chart and two recent dips signal the currency may be breaking out.
XRP's fundamentals and recent positive news imply it might make large gains in the long run, especially if tariffs improve.
Within a double-bottom reversal, two successive drops produce a resistance level called a neckline.
XRP may be breaking past this resistance level, which increases the likelihood of a major breakout.
As seen on its one-hour chart, XRP reversed a double-bottom last week and has been rising since.
Zooming out to XRP's one-day chart, the RSI reveals the currency has been oversold since early February.
Thus, it should recover, but tariff uncertainties may postpone it.
Given the Ripple-SEC lawsuit's recent progress toward resolution, XRP's bull argument remains strong as ever.
Another optimistic factor is that the market is awaiting SEC judgments on 10 XRP ETFs, the most of any cryptocurrency.
The US listing of XRP ETFs this year might have a big impact on the price.
The currency will require better macroeconomic circumstances (e.g., rate reduction, tariff elimination) to start, but if they do, it may quickly recapture past highs.
#xrp $XRP