A key technical setup is unfolding on the XRP price chart, as market analyst Egrag Crypto has flagged a recurring historical chart pattern that has previously marked the cryptocurrency’s market bottom. The analysis indicates that this critical pattern, known as the 5D Bottoming Blueprint, has also previously triggered a renewed upward trend for XRP after major lows. Its reappearance is seen as a potential signal that XRP’s prolonged bear phase may be ending even as the cryptocurrency continues to face bearish headwinds and price volatility.Â
XRP Price Repeats Historic 5D Bottoming Pattern
On March 29, Egrag Crypto stated on X that XRP is closely mirroring a historic bottoming sequence from 2022. The structure, mapped across a 5-day timeframe, suggests that XRP may be in the final stages of its prolonged corrective phase. According to the analysis, the 5D Bottoming Blueprint is defined by two key phases. The first occurs when the 21 Exponential Moving Average (EMA) crosses above the 200 EMA. After which, a sharp corrective pullback occurs, marking XRP’s price floor.
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Back in mid-2022, the exact pattern emerged in the XRP chart. The 21 EMA crossed over the 200 EMA and was later accompanied by a significant price correction of approximately 14.66%. After the correction played out over roughly 4 bars on the 5-day chart, translating to 20 calendar days, XRP established its market bottom. From that low, the cryptocurrency’s bearish phase ended, and its price began a sustained upward trend to new highs.Â
Although XRP appears to be repeating the same historic bottoming sequence in the current cycle, Egrag Crypto still questions whether the present structure would mirror the 2022 pattern’s behavior and timing exactly. The analyst noted that XRP’s 21 EMA has already crossed above the 200 EMA. The cryptocurrency has also undergone a 14% correction, matching the decline seen in 2022.Â
At present, XRP’s bar count is aligning with the same 4-bar historic pattern, which suggests the cryptocurrency could see a potential price bottom in 20 calendar days. Egrag Crypto has marked the key decision window as April 16 on the chart. The key level to watch sits around $1.15, which is the primary bottoming target for XRP’s ongoing corrective move.Â
Egrag Crypto has also highlighted $0.93 as another potential support level, which could serve as the next downside target if the price fails to hold above $1.15.The chart shows the possibility of a deeper correction, with XRP potentially establishing a price floor near $0.73 if it drops below $0.93. If bearish momentum continues, XRP could even decline further to the white trendline near the bottom of the chart, around $0.42.Â
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XRP Eyes Bullish Reversal After Price Bottom
After establishing a market bottom, Egrag Crypto expects XRP to start a bullish reversal. He forecasted that the cryptocurrency could first reclaim the $1.60 level, officially marking the end of the corrective phase and the start of a renewed upward trend.
Following this, the analyst expects XRP to climb back toward $2.05. A clean break above this level would serve as the confirmation signal that XRP’s broader expansion phase could be underway, opening a potential path toward $3.02 and beyond.Â
Featured image created with Dall.E, chart from Tradingview.com
