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Key Takeaways:
XRP's double bottom setup suggests a 20% increase in March.
The mass sell-off has cooled down, and large holders' balances are increasing, improving bullish prospects.
The double bottom indicates a 20% rise for XRP
On Thursday, XRP was forming what appeared to be a double bottom pattern after holding the USD 1.30 - USD 1.35 support zone twice in February.
A double bottom forms when the price touches the same low twice and bounces back. It is confirmed with a breakout above the neckline, which often sets a bullish target equal to the pattern's height from the breakout level.