TLDR
- XRP holders face frustration with stagnant price movements despite broader market gains, with current price around $2.23
- Technical analysis reveals a 7-year double bottom pattern with XRP retesting the $2 neckline support level after hitting $3.4 in January
- Analyst Gert van Lagen sets $38 price target representing 1,604% increase, calling it conservative based on historical patterns
- Key catalysts include regulatory clarity from Ripple-SEC case resolution and over 1,700 non-disclosure agreements signaling institutional partnerships
- Short-term outlook shows consolidation near $2.07 with bearish lean unless stronger bullish catalysts emerge
XRP holders continue to express frustration with the token’s price performance as it trades around $2.23. The cryptocurrency has struggled to maintain momentum despite occasional daily gains like a recent 5% rise.
Market watchers point to a pattern of investor impatience, with many expecting sudden dramatic spikes rather than gradual progress. This expectation contrasts with the reality of XRP’s development trajectory.
Veteran analyst Gert van Lagen has identified a critical technical formation that could drive future price action. The Dutch market technician highlighted a double bottom pattern that has been forming over seven years on XRP’s 2-week chart.
$XRP [2W] is set to continue its bull market parabolically after bouncing off the neckline of this 7-year-old Double Bottom / Ascending Triangle, targeting at least $38.
Last break out of lesser caliber brought price twice its parabolic target, so this is very conservative. pic.twitter.com/acgv0ow7dl
— Gert van Lagen (@GertvanLagen) March 19, 2025
The first bottom occurred when XRP collapsed from its $3.8 all-time high in January 2018 to $0.1140 by March 2020. XRP recovered to $1.96 in April 2021, confirming the first formation.
The second bottom formed when the token dropped from $1.96 in April 2021 to $0.2870 in June 2022 following the Terra collapse. XRP’s recovery to $2 in December 2024 completed the double bottom structure.
This pattern created a neckline at the $2 price level. XRP broke above this neckline in December 2024, reaching as high as $3.4 by January 2025.
Technical Analysis Points to Key Support Test
The token faced resistance at $3.4 and retraced to the $2 mark. XRP has struggled around this level since February, essentially retesting the neckline support.
Van Lagen emphasizes that XRP must defend the $2 mark to maintain its bullish structure. As long as this level holds, the double bottom pattern remains intact.
The analyst has set a price target of $38, representing a 1,604% increase from current levels. Van Lagen considers this target conservative based on historical precedent.
When XRP formed a similar double bottom structure from December 2013 to April 2017, the post-breakout rally was more parabolic. That previous pattern took just over three years to form compared to the current seven-year formation.
Regulatory and Institutional Factors Drive Long-term Outlook
Several fundamental catalysts could drive XRP’s future price appreciation. Regulatory clarity remains a top priority, particularly regarding the ongoing legal proceedings between Ripple and the SEC.
A finalized court resolution could unlock institutional partnerships with major banks and financial institutions. These entities have held back due to regulatory uncertainty.
Ripple is reportedly involved in over 1,700 non-disclosure agreements with other companies. This activity signals extensive behind-the-scenes developments that could materialize into public announcements.
The market awaits increased payment volumes and official ETF launches involving XRP. Government support and evolving crypto policies under new SEC leadership may provide additional tailwinds.
According to Polymarket, there is a 92% probability of an $XRP ETF getting approved by the SEC before the end of 2025 pic.twitter.com/vZQYGZ2yzR
— Brett (@Brett_Crypto_X) June 4, 2025
Ripple’s past exclusion from the U.S. financial system due to legal ambiguity has limited adoption. This barrier is gradually being removed as regulatory clarity improves.
Short-term price action suggests limited bullish momentum. Current analysis points to a likely move toward key support levels rather than an upward breakout.
The most probable trajectory shows consolidation near $2.07, with $2.00 serving as the next major support if that level breaks. A bullish reversal would require a clear breakout above $2.28.
Current market conditions don’t support that breakout scenario. XRP’s price is expected to remain range-bound with a slightly bearish lean unless stronger catalysts emerge.
Other analysts share similar long-term optimism. Market watcher EGRAG suggested XRP could reach $34, while wealth mentor Linda Jones mentioned a potential $33 target based on 4-year cycles.
#XRP – Youâre Not #Bullish Enough! First Time in History: #XRP / #BTC Breakthrough!
đ˘ Listen carefully! Iâve said it beforeâwhen #XRP was around $0.50, I told you that buying at those levels would make you look like a crypto god in the future. I also warned you that buying⌠pic.twitter.com/kEzj4NgvZv
— EGRAG CRYPTO (@egragcrypto) February 24, 2025
Ripple is involved in over 1,700 non-disclosure agreements with companies, indicating extensive partnership discussions that could drive future adoption.
