Peter Smith
XRP is finally showing some real bullish signs after a week of choppy sideways action, with analysts spotting a potential move toward $3.60.
After dealing with frustrating sideways movement and fake breakouts all week, XRP's chart is starting to look more promising. The third-largest crypto has been hanging around just above the key $3.00 level, and now there's a fresh pattern emerging that suggests the bulls might finally be taking charge.
XRP (Ripple) Price Forms Double Bottom Pattern
At the heart of this setup is what looks like a textbook "double bottom" formation. We're seeing a clean higher low followed by a nice five-wave bounce that's already pushed XRP back up to the $3.14 range, according to analyst Ali Martinez.
What makes this even more interesting is that it's happening right as the price approaches that familiar resistance around $3.25. That level gave XRP trouble back on July 27-28, and now it's shaping up as the make-or-break point for any real upward move.
The pattern suggests accumulation might be happening at these levels, with smart money possibly positioning for what comes next. That higher low is telling us selling pressure is drying up while buyers seem to be getting more interested at each dip.
XRP Price Target: Road to $3.60
The technical projections are pretty straightforward here. If this pattern plays out, we're looking at a gradual grind through the $3.30s with a measured path toward $3.60 by early August. That's not just a random number – it's based on standard pattern measurement techniques.
What's really nice about this setup is the relatively clean path above current resistance. Once XRP breaks through $3.25 with some real conviction, there isn't much heavy resistance until that $3.60 zone. That could mean smooth sailing if the breakout actually happens.
XRP (Ripple) Price: What Happens Next?
Here's the thing – nothing's confirmed yet. This is one of those classic if/then moments that traders know well. If XRP gets smacked down again at $3.25, this whole setup goes out the window and we might see a retest of $3.00 or lower.
But if it pushes through with real volume and momentum, bulls finally have the structural backing they've been waiting for. The double bottom gives them a solid foundation, and the lack of major resistance above means there's plenty of room to run.
The next few trading sessions will tell the story. Volume, momentum, and how price behaves around that crucial $3.25 level will determine whether this turns into the breakout XRP holders have been hoping for.
Peter Smith
