What began as a failed double bottom has evolved into a triple bottom, an even stronger reversal pattern, fuelling new bullishness for XRP price predictions.
The correction from last week appears to have found its floor, with a rebound affirming $2.70 as reliable support for the altcoin.
The bounce comes as XRP deepens its foothold in U.S. TradFi markets, with the new SEC generic listing standards for crypto ETPs paving the way for inclusion in Hashdex’s Crypto Index ETF.
A testament to potential spot XRP ETF approvals in the coming weeks, as multiple issuers approach their final decision deadlines in October.
The U.S. macro narrative adds fuel. With inflation nearing the Fed’s 2% target, hopes for continued interest rate easing are growing, with the potential to stimulate new demand for risk assets like XRP.
This setup may create the last buy-the-dip opportunity before XRP’s next breakout move, with a triple bottom forming along $2.70.
A sustained reversal here targets a return to the $3.60 level, and more significantly, would fuel the breakout of a wider bull flag pattern forming since mid-July.
Still, momentum indicators are not decidedly bullish, a sentiment echoed by analysts who call for sustained buy pressure for the triple bottom to be realised.
The RSI is stabilizing in the 40s, showing sellers still hold some sway even as buying interest builds.
The MACD histogram shows a similar trend shift, flattening into what could be an early golden cross above the signal line, which would confirm a bullish shift.
If the flag pattern plays out, XRP could eye a breakout towards $5, an 80% gain from current levels, and a push towards all-time highs into new price discovery.
With further U.S. rate cuts and spot ETF approvals stacking as catalysts for demand running into Q4, the rally could even extend as far as $10, marking a 260% gain.
However, this bullish case heavily relies on the $2.70 level holding as support.
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