XRP Eyes $3 as Double Bottom Pattern Signals Bullish Rebound
According to renowned market analyst Steph is Crypto, XRP could be on the verge of a significant upward move, potentially targeting the psychological $3 mark.
The key catalyst behind this optimism is the emergence of a classic double bottom pattern, a technical formation often associated with trend reversals and bullish momentum.
A double bottom occurs when an asset tests a support level twice without breaking lower, creating a W-shaped pattern on the charts. This formation is widely regarded as a reliable indicator that selling pressure has subsided and buyers are stepping back in.
In XRP’s case, the pattern has taken shape around the $2.50–$2.60 range, suggesting that the market may have found a strong foundation for its next leg up.
Why is this development worthwhile? Well, the double bottom signals short-term selling exhaustion, setting the stage for renewed buying. Rising volumes and favorable market trends suggest growing investor confidence.
Interestingly, XRP is showing bullish signals as declining exchange reserves hint at long-term holding, while rising trading volumes reflect active retail and institutional engagement. Coupled with a double bottom pattern, these dynamics suggest XRP may be quietly building momentum toward a potential breakout.
What is expected? Well, XRP’s double bottom signals a potential bullish surge from the current price of $2.62, with $3 as a key psychological target. Converging technical and fundamental indicators suggest momentum is building, positioning XRP to turn its current consolidation into a launchpad for the next major rally.
Conclusion
XRP’s double bottom, rising volumes, and shrinking exchange reserves point to a potential bullish breakout. While short-term volatility persists, technical and market signals suggest the $3 psychological level is within reach, offering investors a prime entry as sentiment shifts toward cautious optimism.
