XRP Price Prediction: Double Top Pattern Flashes Red – Is the XRP Bull Run Already Over?
Main Idea
The XRP price is showing a bearish double top pattern at $3.66, but potential bullish catalysts like regulatory clarity from the CLARITY Act could revive its uptrend.
Key Points
1. A double top pattern at $3.66 has turned the near-term XRP price outlook bearish, casting doubt on the broader altcoin market.
2. The CLARITY Act, expected to pass in October, could classify decentralized blockchains as commodities (CFTC) and centralized ones as securities (SEC), potentially benefiting XRP.
3. XRP's price is hovering near a projected bottom at $2.79, with a potential 30% upside if it rebounds to reclaim $4.
4. XRP's legal battle with the SEC remains a key obstacle, sidelining institutional demand until regulatory clarity is achieved.
5. Despite missing major market narratives, XRP's community-driven momentum and potential regulatory breakthroughs could reignite its bull run.
Description
With the formation of a double top on its most recent $3.66 high, the near-term XRP price outlook has flipped bearish and casting doubt over the wider bullish trend in question. While bull run sentiment has driven deeper capital rotation into altcoins , momentum may have overextended. The altcoin season index has dropped sharply from 59 to 43. Altcoin Season Index. Source: Coinglass. With the GENIUS Act now signed into law and the CLARITY Act expected to follow in October, bullish catalysts now ...
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