• XRP is retesting a key $2 neckline after forming a rare seven-year double bottom, signaling potential for a major bullish breakout.
• Top analyst Gert van Lagen predicts a conservative $38 price target, supported by historical patterns and bullish technical structures.

XRP’s Seven-Year Double Bottom Explained
Veteran Dutch market technician Gert van Lagen recently spotlighted a rare seven-year double bottom forming on XRP’s 2-week chart. A double bottom, resembling a “W” shape, signals a potential shift from a prolonged downtrend to a robust uptrend. For XRP, the first trough emerged when the asset collapsed from its $3.80 all-time high in January 2018 to a floor of $0.1140 by March 2020. Following that low, XRP rallied to $1.96 in April 2021, confirming the first bottom. The second trough materialized in June 2022, when XRP slid from $1.96 to $0.2870 in the wake of Terra’s collapse. This completed the second formation when XRP reclaimed $2.00 in December 2024, solidifying the double bottom pattern and establishing a clear neckline at the $2 price level.

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Retesting the Neckline: Key to Bullish Continuation
In late December 2024, XRP broke above its $2 neckline, rallying to a 2025 high of $3.40. However, resistance at that level triggered a retracement back to the $2 mark. Since February 2025, XRP has struggled to hold above $2, essentially retesting the neckline support. Market technicians often view a successful retest as a green light for a sustained bullish breakout. If XRP can firmly defend the $2 level—now acting as strong support—the double bottom structure remains intact. Maintaining this pattern could pave the way for a broad bull run, potentially triggering a parabolic rally similar to previous cycles.

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Analyst’s $38 Price Target: Why It’s Considered Conservative
Van Lagen’s analysis identifies an ascending triangle that began forming after XRP’s first bottom. Based on this pattern, he has set a $38 price target for XRP—a staggering 1,604% increase from the current $2.23 price. Despite the lofty figure, Van Lagen insists this forecast is conservative, referencing a similar double bottom from December 2013 to April 2017, which produced a more parabolic post-breakout rally in a shorter timeframe. Other industry experts echo bullish sentiment: in February 2025, market watcher EGRAG suggested XRP could reach $34, while wealth mentor Linda Jones predicted a $33 peak driven by XRP’s four-year cycle last November.

This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research before making investment decisions.