XRP may be on the verge of a significant breakout, according to a recent analysis by crypto expert Steph Is Crypto (@Steph_iscrypto). The analyst shared insights on X, pointing to a double-bottom pattern on XRP’s monthly chart, signaling a potential surge to $30. This prediction has caught the attention of traders, sparking speculation about a major price rally.
#XRP DOUBLE BOTTOM BREAKOUT ON THE MONTHLY
— STEPH IS CRYPTO (@Steph_iscrypto) February 2, 2025
PRICE TARGET: $30 pic.twitter.com/xSDObN90Va
Double-Bottom Formation Signals Strength
The double-bottom pattern is a key technical formation often associated with trend reversals. It occurs when an asset’s price reaches a low twice, with a moderate rebound in between, indicating strong support. If XRP successfully breaches the resistance between these two lows, it could trigger a significant upward move.
Steph’s analysis highlights XRP’s ability to maintain long-term support while approaching a critical resistance level. A successful breakout above this threshold could mark the beginning of a powerful rally toward the projected $30 price point.
Key Resistance Levels and Market Resilience
XRP has historically struggled to surpass the $2–$3 range. However, it recently exhibited resilience, closing above $3 for an extended period—marking its longest streak above this level in its trading history.
At the time of Steph’s prediction, XRP was trading around $2.88. However, it has since seen a decline, falling to $2.30—a 21% drop within 24 hours. If the asset recovers and secures a strong monthly close, it could still validate the breakout theory.
Broader Market Catalysts for XRP’s Growth
Aside from technical indicators, macroeconomic and regulatory factors also influence XRP’s potential rise. U.S. President Donald Trump’s proposal for a strategic cryptocurrency reserve could benefit American-made digital assets like XRP. Additionally, if the SEC lawsuit against Ripple is dismissed, the removal of legal uncertainties could further bolster XRP’s adoption in cross-border transactions and institutional finance.
With technical patterns aligning with positive market trends, XRP’s future remains one to watch closely. A breakout past key resistance levels could set the stage for a substantial price rally, potentially fulfilling the ambitious $30 price target.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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