XRP may be positioned for a major upward movement, following a retest of a critical resistance level tied to a long-standing technical formation. According to Dutch technical analyst Gert van Lagen, the asset’s price behavior continues to validate a bullish setup that has developed over the course of several years.
Seven-Year Double Bottom Identified
Van Lagen previously identified a double bottom formation on XRP’s two-week chart, a pattern typically associated with a trend reversal. This technical structure has been forming over seven years and appears to be approaching a key phase.
In double bottom patterns, two significant price lows occur at similar levels, with a peak between them, forming a “W”-shaped structure. A sustained move above the peak, or neckline, generally signals a breakout, while a subsequent retest of this level can confirm support for a new upward trajectory.
$XRP [2W] is set to continue its bull market parabolically after bouncing off the neckline of this 7-year-old Double Bottom / Ascending Triangle, targeting at least $38.
Last break out of lesser caliber brought price twice its parabolic target, so this is very conservative. pic.twitter.com/acgv0ow7dl
— Gert van Lagen (@GertvanLagen) March 19, 2025
For XRP, the first major bottom occurred in March 2020, following a prolonged decline from the all-time high of $3.80 in January 2018. The asset bottomed at $0.1140, then recovered to $1.96 in April 2021, forming the peak between the two troughs. The second low took place in June 2022, when XRP dropped to $0.2870 in the aftermath of the Terra ecosystem collapse. From there, XRP began to climb again, reaching the $2 range by December 2024.
This established the neckline of the pattern at the $2 mark. The asset briefly surpassed this level in December 2024 and continued climbing to $3.40 by January 2025. However, it faced resistance and retraced back to the $2 level, where it has since remained. This return to the neckline is consistent with the expected behaviour of a double bottom pattern and may indicate a setup for further gains.
$38 Target Considered Conservative
Van Lagen has set a price objective of $38 for XRP, citing this level as a realistic outcome of the current formation. At the time of analysis, XRP was trading around $2.23, meaning the projected price represents an increase of over 1,600%. The analyst emphasized that this estimate is not overly optimistic, noting that XRP has shown the capacity for stronger rallies in past cycles.
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A comparable pattern occurred between late 2013 and early 2017, when a similar double bottom led to a rapid and substantial price increase. Although that earlier formation developed over a shorter period, the post-breakout surge was notably more aggressive.
Other Analysts Share Bullish Outlook
Van Lagen is not alone in forecasting higher prices for XRP. In February, market analyst EGRAG also projected a move toward $34. Meanwhile, financial commentator Linda Jones has suggested that XRP’s long-term price cycles could support a rally to $33.
The common thread among these analyses is the importance of XRP holding the $2 level as support. As long as this price point is maintained, technical indicators suggest that XRP could be positioned for significant upward movement, with $38 cited as a potential milestone in the coming bullish phase.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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