A notable market watcher has shared what he believes is evidence that XRP might have already reached its bottom.

The analysis comes on the back of the ongoing XRP price decline that has persisted since February 2025. This downturn has been as a result of a broader market crash on the back of macroeconomic uncertainties and a bloodbath in the U.S. stock market. 

Now, amid the pullback, analyst Steph (@Steph_iscrypto) has identified what he believes is evidence that XRP might not see lower prices again.

XRP Sees Bullish Divergence

Particularly, the analyst called attention to a bullish divergence on the daily XRP chart, which occurred between Feb. 28 and March 11. 

For the uninitiated, a bullish divergence occurs when an asset sees lower lows while a momentum indicator, like the RSI, observes higher lows. This phenomenon suggests that the selling pressure is now weakening and a reversal could pop up soon.

Data from Steph’s chart confirms that XRP dropped to a low of $1.94 on Feb. 28. The asset recovered days later on the back of President Donald Trump’s strategic reserve announcement but corrected again to form a lower low of $1.89 on March 11.

Interestingly, during this period, the Relative Strength Index (RSI) saw a diverging performance. For context, when XRP dropped to $1.94 on Feb. 28, the RSI slumped to 32.72. However, during the collapse to $1.89 on March 11, the indicator saw a higher low of 43.34. 

Has XRP Bottomed?

According to Steph, the bullish divergence could indicate that XRP has already bottomed in the ongoing correction. Notably, while this might not translate to an imminent explosive run in the short-term, it could confirm that the asset may not go lower than the $1.89 floor from March 11.

Steph highlighted XRP’s historical performance as a guide. He pointed out that during the 2022 bear market, XRP observed a similar pattern. Notably, market data confirms that XRP saw a similar bullish divergence in June 2022, hitting a lower low of $0.28, while the RSI saw higher lows. 

While it took XRP months before it witnessed an explosive surge due to the bear market at the time, its price never went lower than the $0.28 bottom during the market rout. Steph predicts a similar trend for the $1.89 low in the ongoing correction.

A Lofty $30 Target

Meanwhile, leveraging a separate chart, Steph also noted that XRP could actually be on track to reach a lofty $30 price. He identified a double bottom formation on the monthly chart, which indicates the likelihood of an imminent XRP upward push.

For context, the first bottom formed when XRP dropped to a low of $0.1140 in March 2020, while the second bottom formed at $0.2870 in June 2022. Meanwhile, the neckline of the structure rests at the April 2021 high of $1.96 (around $2). 

XRP broke above the neckline in December 2024 and maintained the breakthrough in January 2025. However, the ongoing correction has triggered a retest of the breakout. The asset needs to hold above the neckline at $2 to sustain the breakout. If it maintains this, Steph insists the $30 target could come into play.