XRP Testing Double Bottom Pattern Near $1 as Analyst Eyes $7 Rally

XRP is currently trading at $1.37, up 3.47% over the past 24 hours, but market analyst Zach Rector believes the asset could still face further downside before the bear phase concludes. According to Rector’s latest technical analysis, a double bottom pattern emerging near the $1 level presents a significant buying opportunity for long-term investors positioned for the next bull cycle.

Understanding the Double Bottom Setup

Rector’s analysis centers on a classic double bottom pattern forming around the $1 region. The cryptocurrency recently touched $1.11 before rebounding, and the analyst suggests another retest between $1.20 and $0.90 is likely before the bear market ends. This double bottom formation would signal a potential trend reversal, a pattern historically associated with strong recoveries in markets.

While some traders speculate in much deeper pullbacks toward $0.80, $0.50, or even $0.25, Rector dismisses these scenarios as unrealistic under current market conditions. He acknowledges that pinpointing exact bottoms is impossible, but views the $1 psychological level as the most probable final test zone for XRP. The double bottom pattern would establish a strong technical foundation for the anticipated bull run.

Strategic Positioning Around Key Levels

Rector has shared his personal trading approach, revealing that he’s placing buy orders just above the $1 mark to accumulate spot XRP. This strategy reflects his confidence in the double bottom thesis while protecting against the common market behavior where prices reverse just before hitting round psychological numbers. For Rector personally, this represents a significant re-entry point after years of limited XRP accumulation at these price ranges.

Beyond individual traders, Rector notes that early XRP adopters and long-term holders are also actively positioning themselves. These “original” community members view current price levels as a major opportunity to rebuild positions before the next major rally, signaling renewed institutional and retail confidence at these support zones.

Projected Rally Path - A Silver-Plated Comparison

Looking ahead, Rector projects a $7 target for XRP, drawing inspiration from silver’s historic market cycle. In 2022, silver dipped below $20 before experiencing a 600% rally, a pattern Rector sees as a potential blueprint for XRP’s recovery trajectory. From the proposed $1 level, a 500-600% move would position XRP well within his broader $5-$10 bull range.

Currently trading roughly 70% below its all-time high of $3.65, XRP sits at a critical inflection point. A successful retest of the double bottom pattern could validate the technical setup and potentially trigger the next wave of institutional and retail buying interest. For investors monitoring the space, the double bottom pattern represents a defined technical entry point during what many perceive as the final stages of the current bear market.