XRP Technical Analysis: Signs of Trend Reversal and Strong Breakout Potential

Investors and the cryptocurrency trading community are particularly following the price movements of XRP closely, as new technical signals emerge indicating the potential for a strong bullish reversal in the near future. Double Bottom Pattern on 3-Day Chart According to analysis from expert EGRAG CRYPTO, XRP is likely forming a (double bottom) pattern on the 3-day timeframe – a pattern often seen as a potential bullish reversal signal. The important support zone at $2.07 has been tested multiple times and is still holding strong as a defensive area.

If XRP can maintain stability above the support level of $2.07 and confirm a breakout of the resistance zone around $2.30 (, which coincides with the 21-period EMA), then the market may witness a strong breakout, with price targets of $2.50, $2.65, and even $3.00. Elliott Wave and Fibonacci Long-Term Growth Indicators In addition to the double bottom pattern, Elliott Wave counts are also showing signs of completing an ABC correction, opening up the possibility of starting a new bullish wave. If this trend is confirmed, the new wave could push XRP price above the $3.00 mark, targeting long-term goals around $3.80 - $4.00, based on past Fibonacci extension levels. Short-Term Warning Signal: Inverted V ( and RSI Weakness However, not all signals are positive. On the daily chart, XRP is forming a V-shaped reversal pattern. The RSI has dropped from 68 to 41 since May 12, indicating that buying pressure is clearly weakening. Notably, XRP broke the )rising channel( bullish channel on the daily chart and closed below the support trendline for three consecutive sessions, raising concerns about a weakening of the upside. If the situation continues to deteriorate, the price may make a short-term correction to the $1.70 support area, even $1.50 in a negative scenario. Long-Term Scenario: The Possibility of XRP Bullish to $10.70 – $55 In another analysis shared by commentator Amonyx, EGRAG CRYPTO provides an extremely bullish forecast, suggesting that XRP is entering a phase called "Move 1" – the first stage in the growth cycle according to the fractal model that has repeated in history. This forecast sets a long-term target for XRP up to $10.70 and could exceed $55, in the event that a parabolic uptrend is triggered.

EGRAG emphasizes that the current model bears significant similarities to previous bullish cycles of XRP, and if history repeats itself, the market could witness a spectacular surge. Additionally, the development of Ripple's institutional partners and the recovering trend of the altcoin market are also adding momentum to the potential bullish trend. Summary If XRP maintains above $2.07: It could revisit the $2.30 zone and aim for resistance levels of $2.50 – $3.00. If XRP breaks below $2.07: A short-term bearish scenario towards the $1.80 or $1.50 zone could occur. In the long term: If the fractal pattern and Elliott wave are confirmed, XRP could break out towards the $10.70 zone, even reaching $55 in the new bullish cycle. Although the growth prospects are very impressive, investors need to be cautious, as the market still harbors many technical and psychological risks. Capital management and closely following support/resistance levels are essential in the current volatile phase.