Macro strategist Gert van Lagen has suggested that XRP is ready to rip as it recently completed its retest of a 7-year double bottom breakout. Data from Van Lagen’s chart indicates that this retest occurred as XRP dropped to the $2 mark from February to July and recently recovered. Notably, this price action followed XRP’s breakout from the extensive double bottom structure last November. XRP Forms Double Bottom For context, a double bottom structure forms when the price of an asset falls to a particular low, recovers from this low, drops again to about the same level, and then climbs up again. The structure often indicates that the market is preparing for a shift from a downtrend to an uptrend. Specifically, the neckline of this structure rests around the $1.96 to $2 price region. Whenever an asset breaks above the neckline of the double bottom, it typically indicates that the uptrend is imminent. Notably, XRP broke above the neckline when it surged past $2 during the uptrend last November. XRP 2W Chart | Gert van Lagen XRP Now Targets $34 After Successfully Retesting the Breakout After soaring further to a peak of $3.4 in January 2025, XRP corrected to retest the breakout at the neckline. This was an essential part of the breakout, as it helps to assess if the breakout was strong enough to usher in the upsurge. In such a case, if the token drops back into the double bottom structure, it invalidates the breakout. Notably, XRP held the support at the neckline to maintain the breakout during its five-month consolidation. Now, amid the latest market-wide recovery that ensued this month, XRP appears to have surged past the neckline support, as it reclaims the $3 mark. As a result, van Lagen insists that it has completed the retest. From here, the analyst predicts XRP’s first target is the $34 price, representing a 1,600% increase from the neckline breakout at $2. Interestingly, earlier this year, EGRAG, another market commentator, predicted XRP could soar to the $34 price level, citing positive indicators from the XRPBTC chart. Meanwhile, in his analysis, van Lagen based his target on historical context from the 2014 to 2017 market session. Specifically, from 2014 to 2017, XRP formed a similar double bottom structure. The breakout from this structure led to an explosive rally that saw XRP hit $0.3988 from the $0.028 neckline.