- XRP is showing a potential bullish reversal with a Double Bottom pattern forming; a strong close above $2.30 could trigger a breakout toward $2.50, $2.65, and possibly $3.00.
- Support at $2.07 is crucial—if XRP drops below this level, it could weaken the bullish setup and delay any upward momentum.
- Analyst EGRAG CRYPTO adds technical weight with Elliott Wave analysis, suggesting the end of a correction and the start of a new impulse wave, fueling community optimism.
Crypto analyst EGRAG CRYPTO has stirred excitement in the XRP community, pointing out signs of a Double Bottom forming on the 3-day chart—a pattern that usually shows up when prices are done dipping and ready to turn around. According to him, a solid close above $2.30 might just be the magic trigger that sets the rally off. But nothing’s set in stone until XRP can hang onto that level and stay above its 21 EMA. That’s the technical groundwork that needs to click before bulls can run wild.
Eyes on $3, But First—Break $2.30 and Defend $2.07
If XRP manages to hold its footing above $2.30, EGRAG’s got some key targets lined up: $2.50, $2.65, and a psychological milestone at $3.00. But there’s a catch—the $2.07 level. That spot’s gotta hold. If it slips below, the setup could fall apart like wet cardboard, and all those bullish dreams might get pushed further down the road. The chart he shared shows the usual textbook double-bottom shape, with the “neckline” smack at $2.30 and two solid dips between $1.70 and $2.07 forming the base.
Waves and Whales: Chart Says New Move Brewing
One interesting nugget in the chart—Elliott Wave markings. Looks like EGRAG thinks XRP may have wrapped up a Wave C and could now be starting a fresh impulse wave. That’s big if it pans out, and adds another layer to the bullish vibe hanging around the setup. Basically, all signs point to XRP being coiled like a spring—ready to pop, but not quite there yet.
Traders Stay Alert: Sentiment Builds Around Critical Breakout Point
While optimism’s bubbling up, especially in the #XRPFamily, everyone’s watching that $2.30 resistance line like a hawk. Even EGRAG ended on a hopeful note, reminding traders to “stay steady and strong.” If the pattern plays out as he expects, XRP could be heading for brighter days. But it’s crypto—weird stuff happens all the time. So yeah, bullish signals are flashing, but it’s smart to keep one foot grounded too.
