XRP Price Prediction – Analyst Forecasts Rally to $38 as 7-Year Pattern Signals Breakout

XRP is teetering below $3 after an impressive 30% rally in the last seven days to trade at $2.98. Following the massive gains in the last seven days, XRP has overtaken Tether (USDT) and reclaimed the third spot in the crypto market ranking by market capitalization. A top analyst now forecasts that the porice might be headed to $38 after the recent gains brioke out oit of a seven-year bullish pattern.

XRP Price Targets $38 After Double Bottom Breakout

Analyst Gert van Lagen on X notes that a double-bottomed pattern has been forming on the two-week chart for XRP in the last seven years, indicating that the altcoin might soon break out in an explosive rally.

Per the analyst’s pattern, the price first broke out of the neckline resistance of this massive pattern in late 2024 when it rallied by triple-digit percentage gains. Since then, it has converted this neckline into a strong support level, but the lack of a clear breakout has forced it into seven months of consolidation.

Lagen opines that if the XRP price can continue with its current bullish momentum, then it may get to $38, a value realized by the difference in height between the double-bottom support level and the neckline resistance.

If the price gets to $38, XRP would have a market cap of $2.2 trillion, which is around the current Bitcoin market cap. Therefore, a rally to $38 might not happen within a short time, and instead, it would take years before it happens.

Besides the bullish long-term price forecast shared by this analyst, the short-term projection is also favorable to bullish traders. A recent CoinGape analysis stated that as Bitcoin chases new all-time highs, the XRP price may reach $4 soon.

Whales Accumulation, ETF Success, GENIUS Act May Fuel Gains

The XRP rally to $38 will likely be influenced by a wide range of factors, with the main one being ongoing accumulation by whale addresses. Data from Santiment shows that the whales that hold more than one million coins have bought 100 million Ripple tokens in the last seven days, while those with at least 100 million coins have bought a staggering 1.45 billion coins.

When whales continue with this accumulation spree, the XRP price may continue with its rally. Moreover, their buying behaviour follows a massive increase in institutional demand towards this token, as seen by the Teucrium XXRP ETF that has amassed more than $248 million in net assets.

This success has also seen more investors speculate that a spot XRP ETF might get approval soon, especially with US legislators discussing several crypto-friendly bills this week. On Polymarket, 85% of investors on the platform are projecting that this product is going to get a green light before the year ends.

Lastly, the GENIUS Act that the US House of Representatives is debating this crypto week will bode well for the RLUSD stablecoin, and its growth will spill over to the XRP price performance. CoinMarketCap data shows that the stablecoin has achieved a $517 million market cap, and it might continue to grow with friendlier regulations, which might also support XRP in gaining.

In summary, the XRP price continues to move within a double-bottom pattern that has been forming in the last seven years, and with signs of a breakout emerging after the 30% weekly gains, there is a chance that it might move to $38.