Double Bottom Emerges Amid Market Uncertainty
Over the past two weeks, XRP has traced out a classic double bottom pattern near the $2.95 and $3.05 zones. This formation often signals a bullish reversal after sustained selling pressure. Despite broader crypto market jitters driven by regulatory headlines, XRP bulls successfully defended that neckline around $3.15. A decisive close above this level on the 4-hour chart would confirm the pattern and set the stage for a potential upward swing.
Key Support at $3 Under Scrutiny
The $3 mark has emerged as a pivotal support level. Every time XRP has dipped to this threshold, buyers have stepped in, preventing further declines. On the daily timeframe, the 50-day simple moving average converges near this zone, adding extra weight to its importance. A sustained breach below $3 could open the door to renewed downside, risking a revisit of the $2.70 region. Conversely, fortifying this base is crucial for maintaining any bullish outlook.
Potential Upside and Bearish Risks
If XRP can clear the immediate resistance cluster between $3.20 and $3.30, technical targets point to $3.50 and then $3.75. Momentum indicators such as the Relative Strength Index (RSI) are hovering around neutral territory, suggesting room for a bullish thrust if buying volume picks up. On the flip side, failure to hold above $3 could trigger a sharp slide toward $2.60, where the next demand wall awaits. Traders should watch volume profiles and macro catalysts for clues on which direction will prevail.