XRP Price Prediction: Analyst Says Double Bottom Could Propel XRP to $3.00 Soon

• Analyst flags $2.07 as crucial support for XRP’s bullish setup toward the $3.00 target.
• XRP’s RSI has declined from 68 to 41 since May 12, indicating growing bearish momentum.
• Analyst targets $3.00 for XRP as a double bottom setup emerges on the 3-day chart.

Traders are closely monitoring XRP’s price since new technical signs point to a possible trend reversal. The analysis done by EGRAG CRYPTO shows that XRP is almost ready for a key shift since it might be forming a ‘double bottom’ pattern on the 3-day chart. 

The double bottom pattern—a structure commonly associated with bullish reversals—requires that XRP maintain support above $2.07. This level, marked with multiple tests on the 3-day chart, has so far held as a defensive zone. EGRAG CRYPTO identifies $2.50, $2.65, and $3.00 as key price targets if the breakout occurs. A confirmed close above $2.30, where the neckline and the 21-period EMA align, might trigger a move toward $3.00.

Elliott Wave counts on the chart also indicate a completed ABC correction and the potential onset of a new bullish impulse wave. If confirmed, this wave could extend beyond the $3.00 level toward long-term projections of approximately $3.80 to $4.00 based on historical Fibonacci extensions.

However, recent technical signals suggest caution. An inverted V-shaped correction is forming on the daily chart, with the RSI decreasing from 68 to 41 since May 12. According to analysts, XRP has fallen below a rising channel, recording three consecutive daily closes beneath trendline support. This indicates diminishing bullish strength and raises the likelihood of a short-term drop toward the $1.70 area.

Elliott Wave and Fibonacci Signal Long-Term Upside Targets

In another analysis, Egrag Crypto has reignited bullish sentiment within the XRP community with a striking new projection suggesting the asset could surge toward $10.70 and potentially as high as $55. Shared by crypto commentator Amonyx, the analysis identifies XRP’s current phase as “Move 1,” historically a precursor to parabolic growth. 

Egrag’s use of fractal patterns suggests that XRP might be repeating a past bullish cycle, creating the opportunity for a decisive breakout. Coupled with Ripple’s growing institutional partnerships and renewed vigor in the altcoin market, the chart has ignited fresh enthusiasm, although analysts advise caution due to ongoing market uncertainties.

Related: XRP Price Prediction for 3rd June 2025: Will Bears Push Price Below $2.10 After Triangle Breakdown?

If XRP remains above $2.07, it might revisit $2.30 and could potentially hit breakout targets of $2.50, $2.65, and $3.00. These targets coincide with key resistance levels noted earlier this year. On the other hand, dropping below the $2.07 support would weaken the bullish outlook and might result in a more serious correction, possibly to the $1.80 or $1.50 range.