What Could Happen to XRP Prices If the 5D Bottoming Blueprint Emerges Again?

A significant technical setup is developing on the XRP price chart, identified by market analyst Egrag Crypto. This setup highlights a historical chart pattern known as the 5D Bottoming Blueprint, which has previously indicated market bottoms for XRP. The reappearance of this pattern may suggest that XRP’s long bear market could soon be coming to an end, despite ongoing bearish pressures and price fluctuations.

Key Takeaways

The 5D Bottoming Blueprint is re-emerging on the XRP chart, a pattern that marked previous market bottoms.
XRP is currently following a historic bottoming sequence similar to one observed in 2022.
Key levels to watch include $1.15, where XRP may find support, and $0.93 and $0.73 as potential targets if the price fails to hold.
If a bottom is confirmed, analysts believe a bullish reversal could lead XRP to $1.60 and possibly $2.05, with a longer-term goal of $3.02.

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XRP Price Mirrors Historic 5D Bottoming Pattern

On March 29, Egrag Crypto reported on X that the XRP chart is reflecting a familiar bottoming sequence from 2022. This analysis, conducted over a 5-day period, indicates that XRP could be nearing the final stages of a lengthy corrective phase. The 5D Bottoming Blueprint is characterized by two main phases. The first phase occurs when the 21 Exponential Moving Average (EMA) crosses above the 200 EMA, followed by a sharp corrective pullback that establishes a price floor for XRP.

In mid-2022, this same pattern appeared in the XRP chart. At that time, the 21 EMA also crossed over the 200 EMA before experiencing a significant price correction of about 14.66%. This correction played out over roughly four bars on the 5-day chart, corresponding to around 20 calendar days, after which XRP found its market bottom. Following this low, the bearish trend concluded, and XRP began a sustained upward movement, reaching new highs.
XRP Price Source: X

Currently, while XRP seems to be replicating this historical bottoming pattern, Egrag Crypto raises questions about whether this iteration will mirror the 2022 pattern's behavior and timing exactly. The analyst observes that XRP’s 21 EMA has already crossed above the 200 EMA, and the cryptocurrency has undergone a correction of 14%, paralleling the decline from 2022.

XRP's current bar count aligns with the historical four-bar pattern, implying that a price bottom may form in approximately 20 calendar days. Egrag Crypto has highlighted April 16 as a key date to watch. The focus is on the $1.15 level as a significant price point for XRP’s ongoing corrective movement. Additionally, the analyst points out $0.93 as a crucial support level, which may act as the next downside target if XRP does not maintain its position above $1.15. Should the price continue to fall, XRP may establish a price floor near $0.73 if it dips below $0.93. In a more bearish scenario, XRP could decline further to the white trendline near the bottom of the chart, around $0.42.

XRP Aims for Bullish Reversal After Price Bottom

After reaching a market bottom, Egrag Crypto anticipates that XRP will embark on a bullish reversal. The analyst predicts that XRP could first aim to reclaim the $1.60 level, marking the conclusion of the corrective phase and the commencement of a new upward trend.

Following this recovery, Egrag Crypto envisions XRP climbing towards $2.05. A decisive break above this threshold would act as a confirmation that XRP is entering a broader expansion phase, potentially paving the way for further growth to $3.02 and higher.
XRP price chart from Tradingview.com Price continues uncertain movement | Source: XRPUSDT on Tradingview.com