XRP is showing signs of resilience after dipping to $2.3126, forming what could be a double bottom pattern, a bullish technical signal that suggests potential reversal and upward momentum.
According to EGRAG CRYPTO, XRP continues to bounce off the red descending trend line, maintaining a key level of support and signaling market strength. The current price action is oscillating within a narrow range, referred to as “micro noise,” between Fibonacci level 0.888 — specifically, between $2.30 and $2.62.
What’s Next for XRP?
The chart outlines two potential scenarios:
Bullish case: A successful breakout above the trend line could send XRP to $2.30, then to $3.10, with the ultimate upside target around $3.3967.
Bearish case: Failure to hold current levels could lead to a retest of lower Fibonacci zones, including $1.6126 (0.786) and $1.2038 (0.702) — the latter marked humorously with a fishing hook and fish emoji on the chart, suggesting a possible liquidity grab before reversal.
EGRAG emphasizes staying steady and encourages the #XRPFamily to remain confident through current price volatility.
“STAY STEADY AND STRONG. Together W e Rise!,” he wrote.
With key support holding and strong technical patterns forming, XRP could be approaching a critical breakout point — one that traders will be watching closely in the days ahead.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/xrp-holds-support-at-2-31-in-double-bottom-formation-eyes-on-higher-breakout/