XRP to $34? Analyst Says XRP Is Ready to Rip Based On This Historical Pattern
Main Idea
Analyst Gert van Lagen suggests XRP could reach $34 based on a historical double-bottom pattern and Fibonacci extension, drawing parallels to its 2014–2017 accumulation phase.
Key Points
1. Gert van Lagen identifies a nearly seven-year double-bottom pattern in XRP's price structure, with a projected upside target of $34.
2. The analysis compares XRP's current price action to its 2014–2017 accumulation phase, which preceded a significant price surge in 2017–2018.
3. XRP is currently trading well below its 2018 all-time high of $3.84 and the $34 projection, indicating potential for a large upward move if the pattern holds.
4. Short-term momentum may be accelerating due to renewed interest in van Lagen's thesis, but the analysis is framed as a probabilistic scenario rather than a certainty.
5. The article emphasizes that the analysis is not financial advice and encourages readers to conduct their own research before making investment decisions.
Description
Dutch macro strategist Gert van Lagen, in a widely circulated X post, asserts that XRP’s latest price structure resembles a nearly seven-year double-bottom pattern. He observes that XRP broke above the neckline of this formation on the two-week chart, successfully retested that level, and is now positioned for a sharp move higher, citing a first measured target near $34, corresponding to the 2.00 Fibonacci extension of the pattern. This bold claim, along with its chart-based rationale, has garne...
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