Dutch market expert Gert van Lagen forecasted a parabolic XRP recovery after XRP recovered from the neckline of a seven-year double bottom pattern.
His analysis identifies this structure as one of the most extensive patterns in cryptocurrency history, suggesting that longer formation periods typically produce more powerful breakouts.
The double bottom pattern completed during November 2024’s market surge when XRP reached $2 in early November, establishing the neckline breakthrough. This bullish reversal structure indicates potential trend change from bearish to bullish conditions when price action successfully breaks above key resistance levels.
XRP’s rally hit $3.40 by January 2025, but then it faced resistance. This sent the token below $3 through February. The dip started a six-month period of stable prices, testing how strong the double bottom breakout and neckline support were.
Breakout Authenticity Confirmed by Neckline Defense
Even with the long stable period, XRP stayed above the key $2 neckline. This showed that the double bottom breakout was real. This strong price held, suggesting the pattern is still good and not a false breakout.
Market behavior following major breakouts often includes consolidation phases that retest previous resistance levels before resuming upward movement. XRP’s ability to hold above $2 during this testing period aligns with typical post-breakout dynamics that build a foundation for subsequent advances.
XRP is now strongly moving above the $2 neckline, which led van Lagen to predict a huge rally. For XRP to hit the analyst’s $38 target, it needs to jump 1,238% from its current price of around $2.84, putting it far above its old highest price.
Similar analysis was provided by CryptoInsightUK in December, projecting that XRP could reach $35 levels based on technical formations. The convergence of multiple analytical viewpoints on comparable price targets adds credibility to aggressive upside projections.
Van Lagen thinks his $38 target is low when compared to XRP’s performance in 2017. In that earlier period, a similar price pattern led to over 13,000% gains, hitting $3.80 by January 2018 and doubling even the most aggressive predictions.
The 2017 comparison suggests that current technical formations could produce similar explosive results, given appropriate market conditions. However, current market dynamics include institutional participation and regulatory clarity that differ from previous speculative cycles.
