Analyst Says XRP is About to Break the Double Bottom

XRP has formed a double bottom reversal pattern on the 3-day chart, with the current price action surpassing a significant resistance level. This pattern was shared on X by Steph Is Crypto (@Steph_iscrypto), a respected analyst in the XRP community, and it illustrates the change in momentum after months of consolidation and a prolonged downtrend. The first bottom in this structure formed in mid-April 2025 when XRP fell to around $1.65. After recovering and failing to break through the resistance level around $2.60, the price adjusted and hit the second bottom near $1.90 in early June. This double drop established a solid support level and laid the foundation for the current reversal.

After the second bottom, XRP began to surge strongly at the end of June and the beginning of July, finally testing the resistance level of the neckline at around $2.6. As shown on the chart, the most recent candle has now closed above this level, indicating the possibility of a breakout. The movement across this important zone marks the first clear break of the neckline since the pattern began to form in March and may signal the beginning of a larger uptrend. Structure and Objectives The double bottom structure that Steph shared is clearly defined. The asset has tested the narrow support area twice with minimal deviation, while the neckline at $2.6 has maintained a stable ceiling throughout April to early July. With a breakthrough of this level, the technical forecast for this pattern targets a bullish goal in the range of $3.4–$4, with the potential to reach a new all-time high. These targets are determined by measuring the vertical distance from the bottom ( at $1.75 to the neckline ) at $2.6 and applying it at the breakout level. This method is in line with standard technical practice and is commonly used to estimate the potential size of a reversal. Meaning of the 3-Day Breakthrough The use of the 3-day timeframe adds further significance to the pattern. Breakouts on longer timeframes are often regarded as more reliable than those on shorter ones, as they reflect a broader market position and are less noisy. In this case, a closing above $2.6 indicates the potential to maintain bullish momentum, provided this level holds after a retest. A renowned analyst recently predicted that a rise above $2.6 would push XRP up to $3. The asset is currently trading at $2.79, well above this resistance level, and is on track to rise to even higher levels. If XRP maintains above this old resistance level, the double bottom pattern could be considered confirmed.