Analyst Gert van Lagen at X points out that a double bottom pattern has been forming on the two-week chart for XRP over the past seven years, indicating that the altcoin could soon explode in a powerful rally.
According to the analyst's pattern, the price first broke through the resistance of the neckline of this massive pattern in late 2024, when it surged with triple-digit percentage gains. Since then, it has turned this neckline into a solid support level, but the lack of a clear breakout has forced it to consolidate for seven months.
Lagen believes that if the price of XRP can maintain its current bullish momentum, it could reach $38, a value realized by the height difference between the double bottom support level and the neckline resistance.
If the price reaches $38, XRP would have a market capitalization of $2.2 trillion, similar to Bitcoin's current market capitalization. Therefore, a rise to $38 may not happen soon, but could take years to occur.
In addition to the long-term bullish price forecast shared by this analyst, the short-term projection is also favorable for bullish investors. A recent analysis indicated that as Bitcoin seeks new all-time highs, the price of XRP could soon reach $4.
