XRP’s price structure is showing a compelling wave formation that could signal an imminent surge to $4, according to leading crypto analysts. Currently trading at $2.13, XRP’s technical patterns suggest significant volatility ahead as the asset positions for a potential all-time high retest.
Elliott Wave Structure Signals Major XRP Movement
Certified Elliott Wave analyst XForceGlobal has identified a complex wave formation on XRP’s chart that suggests the digital asset is preparing for its next major move. The analysis reveals a particularly noteworthy pattern – a double zigzag (W-X-Y) formation that demonstrates remarkable symmetry across multiple wave degrees.
As noted in recent market analysis showing bearish signs after XRP’s 4-day rally, the current price action is at a critical juncture. However, the new wave structure suggests that bearish pressure may be subsiding.
Critical Price Levels and Fibonacci Alignments
The technical analysis highlights several key price levels that traders should monitor:
- Current accumulation zone: $1.84 – $2.25
- First resistance target: $3.20 – $3.80
- Ultimate price target: $4.00+
These levels align with classic Fibonacci extension points, particularly the 61.8% and 100% retracements, adding credibility to the projected price targets.
Alternative Scenario: The $50 Projection
In a more ambitious forecast, crypto analyst ‘Steph is Crypto’ suggests XRP could reach $50 within 3-6 months, representing a potential 2,280% increase. While this projection appears extremely optimistic, it’s predicated on XRP first breaking above the $2.50 resistance level.
Frequently Asked Questions
Q: What is the immediate support level for XRP?
A: The current critical support zone lies between $1.84 and $2.25.
Q: When could XRP reach the $4 target?
A: Based on the wave structure analysis, this could occur within the next market cycle, though specific timing remains uncertain.
Q: What are the key resistance levels to watch?
A: The primary resistance levels are $2.50, followed by the $3.20-$3.80 zone.
Traders should maintain strict risk management practices given the potential for increased volatility as these wave patterns unfold.