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After a frustrating week of sideways chops and fakeouts, XRP’s price chart structure is starting to look like something more concrete. The price of the third biggest cryptocurrency has spent the past few sessions coiling just above the key psychological point of $3, and now a fresh wave pattern is being printed — one that suggests bulls might finally be retaking the charge.
At the core of this "double bottom" setup is a textbook higher low, followed by a subtle five-wave bounce that has already dragged XRP back to the $3.14 range, according to Ali Martinez.
Further solidifying the bull thesis is the fact that it is happening just as the price re-approaches a familiar pressure point around $3.25. That level served as resistance on July 27-28, and now it is shaping up as the pivot point for any meaningful continuation.
The dotted projection sketched out in the chart shows what this breakout could look like if the pattern is validated. We are talking a gradual grind through the $3.30s, with a measured path toward $3.60 by early August.
What's next for XRP price?
So far, nothing is confirmed. If XRP gets smacked down again at $3.25, this setup will be shelved. But if it pushes through with conviction, there is plenty of room above — and not a lot of heavy resistance until the $3.60 zone.
It is a classic if/then moment, and bulls may finally have the structural backing they have been waiting for.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team