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JR.Verse

04/29 18:03

XRP Flashes Double Bottom Reversal

A double-bottom reversal is a chart pattern in which two more or less consecutive dips form a ‘neckline’ that acts as a resistance level.

If the corresponding asset breaks through this resistance level, then it raises the probability of a significant breakout, something which may be happening with XRP right now.


As we can see from XRP’s one-hour chart, it actually pulled off a double-bottom reversal last week, and it has been on a relative uptrend since.1744883144-screenshot-2025-04-17-at-10-44-14-1536x736.jpg
Yet the bull case for XRP remains as strong as it has been for a very long time, given that the Ripple-SEC case has recently taken decisive steps towards ending once and for all.

Also bullish is the fact that the market is now waiting on decisions from the SEC on 10 XRP ETFs, the highest number of any altcoin.

Assuming that we do see the listing of XRP ETFs in the US this year, the effect on the XRP price could be huge.

The coin will need more favorable macroeconomic conditions (e.g. rate cuts, removal of tariffs) to really get going, but if the pieces do come together, then it could easily reclaim previous highs.
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