XRP’s price chart is exhibiting a bullish double bottom formation above the critical $3 support level, signaling potential upward momentum for the cryptocurrency. This technical pattern emerges as XRP establishes a higher low near $3, followed by consolidating sideways price action around this psychological support zone.
The $3.25 resistance level represents a crucial hurdle that previously capped gains during a trading attempt last month. A decisive breakout above this barrier with substantial buying volume could propel XRP toward a $3.60 price target, according to technical indicators.
Immediate support remains firmly established above $3, where buyers have consistently entered the market throughout recent trading sessions. The sustainability of any bullish move hinges critically on robust market sentiment and increased trading activity near the $3.25 resistance level.
Historical patterns indicate that similar double bottom formations preceded significant XRP rallies in the past. Market watchers note that current conditions mirror these earlier setups, though broader cryptocurrency market dynamics will influence whether the projected breakout materializes.