Just caught this interesting technical setup on XRP. So the price touched $1.11 last week and now we're back at $1.38, which is making some analysts talk about a double bottom pattern forming around the $1 level. One trader I follow, Zach Rector, is pretty convinced that XRP could revisit that $1 zone one more time before things turn around.

What caught my attention is that he's not waiting for an exact bottom—he's already placing buys slightly above $1 because of how often price bounces just before hitting those psychological levels. He's expecting a retest somewhere between $1.20 and $0.90, but disagrees with the doom predictions about $0.50 or lower. Says the double bottom pattern makes more sense given current conditions.

The wild part? He's projecting a $7 target based on a potential 500-600% move from $1, comparing it to silver's historic breakout. With XRP sitting about 70% below its all-time high of $3.65, there's definitely some conviction here. Older holders are apparently stacking at these levels too, seeing it as a major buying opportunity. Price is at $1.38 right now with a slight dip today, so we'll see if that $1 level actually holds as support or if the double bottom pattern plays out.