XRP Double-Bottom Pattern Targets $34 Breakout

XRP has captured investor interest as a prominent crypto analyst points to a massive breakout, stemming from a long-term double-bottom pattern. This technical development suggests Ripple’s XRP could be preparing for a substantial surge, possibly climbing toward the $34 level based on chart analysis.

The focus keyword XRP frames a bullish narrative shaped by years of price movement. According to the analysis, the token has completed a textbook breakout above a neckline that held for years. The long-standing macro pattern, which began around 2018, appears to mirror a prior cycle that ended with an explosive rally in 2017. The current structure draws attention to this parallel, implying that XRP could be repeating history on a grander scale.

The breakout formation, mapped on a logarithmic chart using two-week candlesticks, offers further credibility to the forecast. The double-bottom pattern formed a wide W-shape across several years, with lows established between the $0.20 and $0.30 range. From there, XRP rebounded toward a key resistance level slightly above $2, considered the neckline for this pattern.

Following the surge past this neckline, a successful retest occurred when XRP briefly fell back close to the $2 level, holding it as support. This behavior aligns with what technical analysts look for in a confirmed breakout, particularly on logarithmic scales where multiplicative price movement is emphasized.

At the time of analysis, XRP stood at $3.19—just above the neckline but still beneath its 2018 all-time high of $3.40. Holding above this support zone strengthens the bullish argument, as a drop below could signal pattern failure. However, remaining north of $2 confirms the breakout and potentially paves the way for exponential upward movement.

Using the height of the base applied logarithmically, the analyst anticipates a strong price target. The next key resistance level is forecasted at approximately $34, calculated using a Fibonacci 2.00 extension. This target assumes XRP will behave similarly to its 2014–2017 cycle, which saw an intense rally after a comparable setup.

The chart not only projects the target but includes a suggested time frame using twelve future two-week candles—around five to six months. If this trajectory unfolds in a similar manner, three initial candles could push XRP beyond $11 and toward the $36 mark. Although the visual path includes pullbacks and corrections, the projected pattern shows higher lows and long-term upward momentum. This progression is intended as guidance rather than prediction but reflects how Fibonacci extensions typically behave in crypto markets.

Central to the outlook is the concept of a multi-cycle breakout, where the 7-year long double-bottom pattern isn’t merely a short-term setup but illustrates a complete market reversal. Such a move, if validated fully, could affirm Ripple’s XRP as entering a new phase of growth. Historical precedence further supports this case, highlighting the technical symmetry between previous bull cycles and the one currently unfolding.

Despite the excitement, it’s important to note that this bullish outlook depends heavily on XRP maintaining its position above the neckline and building momentum over the coming months. The recent dip and recovery illustrate this volatility, with price action expected to stabilize before any extended rally materializes. Whether XRP can replicate or exceed prior cycles remains to be seen, but the technical structure provides a compelling blueprint for what’s ahead.

Related: XRP Price: $12M Max Pain for Bears

As XRP holds above its breakout level and eyes its historical highs, the possibility of reaching the $34 mark hangs on sustained positive sentiment and technical alignment. Market participants watching this development will likely focus on volume, support retention, and broader crypto conditions in their assessment of XRP’s trajectory.