Steph Is Crypto (@Steph_iscrypto), a prominent crypto analyst on X, recently shared an analysis suggesting that XRP may be on the verge of a major breakout. The chart highlights a double-bottom formation on the monthly timeframe, with a projected price target of $30. This prediction has drawn attention from traders and investors, implying a significant surge from XRP’s current levels. #XRP DOUBLE BOTTOM BREAKOUT ON THE MONTHLY PRICE TARGET: $30 pic.twitter.com/xSDObN90Va — STEPH IS CRYPTO (@Steph_iscrypto) February 2, 2025 XRP’s Double-bottom Formation The double-bottom pattern is a widely recognized technical formation that signals a potential trend reversal. It forms when an asset’s price hits a low point twice, with a moderate rebound in between. A strong upward movement is expected if the price successfully breaks above the resistance level formed between the two lows. In XRP’s case, the chart shared by Steph indicates that the asset has maintained a long-term support level and recently approached its historical resistance. The breakout above this resistance could signal the start of a strong upward move, reinforcing the $30 target. Historical Resistance And Breakout Confirmation XRP has struggled to break past key resistance levels, particularly in the $2–$3 range. However, the digital asset showed notable resilience recently, experiencing its highest monthly closing price , after spending 16 consecutive days closing above $3—the longest period in its history. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 This monthly close brought XRP above the crucial resistance outlined by Steph. If the digital asset can sustain its momentum and stay above this resistance, it would confirm the breakout, and kickstart the run to $30. At the time of Steph’s analysis, XRP was priced around $2.88. The asset has further declined since then, trading at $2.31, with a 20% drop over the past 24 hours. If XRP can recover and close the month on a high note, it still has a good chance of experiencing a breakout. Other Bullish Factors Surrounding XRP Beyond technical analysis, broader market conditions play a role in determining whether XRP can reach $30. Recent trends in the crypto market suggest a growing interest in assets with strong use cases. U.S. President Donald Trump plans to establish a strategic cryptocurrency reserve , and American-made digital assets like XRP are set to benefit greatly from this initiative. Additionally, the dismissal of the SEC lawsuit against Ripple as many experts have predicted would eliminate all hurdles in XRP’s way. This would also aid Ripple to further strengthen XRP’s role in cross-border payments and institutional finance, a key factor that could contribute to its long-term price appreciation. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post XRP Double-bottom Breakout Could Price to $30 appeared first on Times Tabloid .
