XRP Technical Outlook – Market Analysis (Elliott Wave Perspective)
XRP is currently forming a complex structure on the 4-day chart, with two Elliott Wave scenarios in play:
Primary (Yellow) Scenario:
XRP may be approaching a fifth wave rally that could push it into all-time high territory, potentially ending a larger 5-wave structure from the 2013 low.
Target Zone: $5.00 – $6.60
After this, a major corrective wave is expected (possibly Wave 2), retracing towards the $0.40–$0.50 support zone, aligned with the previous Wave 4 triangle region.
Alternative (White) Scenario:
Suggests the bull market started in 2020, and XRP is still completing its fifth wave, not the entire cycle from 2013.
This implies more room to the upside, but the correction afterward will still be significant (may last ~1 year).
Short-Term Price Structure:
From the April low, a 5-wave upward structure is developing, but only 3 waves are currently visible.
Market is unstable short-term but printing higher highs and higher lows.
If $2.12 (Wednesday’s low) holds, XRP could continue higher.
A break below $2.12 may initiate a deeper B-wave correction towards the support zone:
$1.84 – $2.01
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Trade Plan (Aggressive Long Bias):
Entry Zones:
$2.12 (on pullback)
$1.84 – $2.01 (alternative buy zone)
Target Levels:
Short-Term: $2.80 – $3.50
Mid-Term: $5.00 – $5.60
Long-Term: $6.60+
Stop Loss:
Below $1.80 (to protect against structure failure)
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Conclusion: XRP remains bullish in both main wave scenarios with another potential rally ahead. However, prepare for significant corrections in the mid-to-long term. Risk management is crucial.