This formation, considered one of the most reliable bullish setups, suggests XRP could soon reclaim higher resistance levels if momentum continues building.
At the time of writing, XRP is trading at $2.95, showing a modest 0.65% gain in the past hour, despite being down 3.95% on the day and 3.75% over the last week. The asset maintains a strong position as the third-largest cryptocurrency by market cap, with a valuation of over $175 billion and $5.58 billion in 24-hour trading volume.
The double bottom pattern—identified by crypto analyst EGRAG CRYPTO—shows two distinct dips near the $2.81 and $2.91 levels, with a neckline sitting just above the $3.00 mark. According to the chart shared by EGRAG, a breakout above this neckline could send XRP toward key resistance levels at $3.15 and potentially $3.31.
The setup reflects a growing sentiment among XRP traders that the recent decline may be nearing exhaustion. If price action confirms the breakout above $3.00, it could ignite a short-term rally and invite renewed interest from retail and institutional traders alike.
While the broader altcoin market remains under pressure, XRP’s chart structure offers a rare glimmer of optimism. However, it remains crucial for bulls to defend the current price region and push decisively above the $3.00 barrier to validate the bullish thesis.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
The post XRP Charts Bullish Double Bottom – Is a Breakout to $3.30 Next? appeared first on Coindoo.
