Top Analyst Predicts $38 Price Target for XRP — Here’s the Main Reason Why

XRP could be on track to resume its bull run after retesting the neckline of a years-long double bottom structure.

Veteran analyst and Dutch market technician Gert van Lagen highlighted this situation in one of his previous analyses. However, despite weeks of price action, data suggests the analyst’s commentary is still relevant, as XRP has maintained this retest.

Specifically, Van Lagen previously spotlighted a double bottom XRP formed on the 2-week chart that has persisted for seven years. 

XRP Forms 7-Year Double Bottom

For the uninitiated, a double bottom is a pattern that signals a possible shift from a downward trend to an upward one. Notably, it resembles a “W” shape, forming when the price drops, recovers, dips again to nearly the same level, and then climbs.

In XRP’s case, the first bottom formed when the asset collapsed from the $3.8 all-time high in January 2018 to a floor price of $0.1140 by March 2020. XRP eventually recovered from this floor to a new high of $1.96 in April 2021 during the bull run at the time. This confirmed the first formation.

Meanwhile, the second bottom formed when XRP slumped from the $1.96 high in April 2021 to another floor price of $0.2870 in June 2022. This materialized on the back of the Terra collapse in May 2022. However, XRP recovered to the $2 mark in December 2024, sealing the second formation.

With these two bottoms fully formed, the structure took shape, featuring a neckline at the $2 price level. In such patterns, a break above the neckline is often a signal of a bullish breakout. Nonetheless, the market typically expects a retest of the neckline support following that breakout before a price run.

Interestingly, XRP broke above the neckline in December 2024, soaring further to a high of $3.4 by January 2025. However, at $3.4, the asset faced resistance, eventually retracing to the $2 mark. XRP has struggled at $2 since February, and as it faces these struggles, the asset is essentially retesting the neckline.

Analyst Sets XRP Target at $38, but Insists It’s Conservative 

To maintain its bullish structure, XRP must defend the $2 mark, which represents the neckline. As long as this structure remains, the double bottom pattern is still intact, and a recovery could lead to the much-anticipated price explosion.

The analyst also identified an ascending triangle that began forming after the first bottom. Importantly, Van Lagen has set a target of $38, marking a 1,604% increase from the current XRP price of $2.23. Nonetheless, the analyst insists this target is conservative due to historical precedent. 

Specifically, when XRP witnessed a similar double bottom structure from December 2013 to April 2017, the post-breakout rally was more parabolic than what it would witness from here to $38. Despite this more parabolic run, the previous double bottom took less time to form, with just over three years.

Notably, several analysts have also predicted a possible run to the $30 range. For instance, market watcher EGRAG suggested in February that XRP could claim $34. Also, wealth mentor Linda Jones mentioned last November that XRP’s 4-year cycle could push the asset to $33.