The XRP community is buzzing with excitement as technical analysts continuously discover bullish patterns on the XRP chart, indicating that the current upward momentum of this asset is far from over. One influential voice in the community, Steph Is Crypto (@Steph_iscrypto), has shared an analysis chart suggesting that XRP may be entering the final stage of the current bullish cycle.

Familiar Pattern is Re-emerging

In the latest chart shared by Steph, he has overlaid the current XRP price chart on the chart from the historical bullish cycle of 2017. Both display a growth pattern consisting of five waves (1 to 5) lasting about 365 days — corresponding to 12 candlesticks on the weekly chart. Notably, the duration of both cycles is completely identical, creating an astonishing coincidence.

According to Steph's analysis, XRP has completed the first four waves and is currently entering Wave 5, which is the final explosive phase in Elliott Wave Theory – often a signal preceding the highest peak in a bullish cycle.

Elliott Waves Suggest a Price Explosion

Elliott Wave Theory is a tool used by technical analysts to identify recurring market psychology patterns, thereby predicting future price movements. In the current cycle of XRP:

  • Waves 1 and 2 witnessed relatively modest fluctuations.

  • Wave 3, often the strongest wave, saw XRP surge over 500%, from $0.55 to $3.39.

  • Wave 4 formed from the market-wide correction in February 2025.

  • Currently, XRP is believed to be starting Wave 5, a phase expected to bring about a final explosive growth in this cycle.

Is the $24 Target Feasible?

A noteworthy point in the analysis is that Steph does not specify a particular price target; however, his chart indicates that XRP could aim for the $24 mark in this cycle — equivalent to a 587.7% increase from the current price of $3.49.

Compared to 2017, XRP also experienced a strong growth phase lasting precisely 365 days, making it one of the best-performing digital assets during that cycle. With similarities in both timing and wave structure, many experts believe that XRP can completely replicate this impressive achievement in 2025.

Conclusion: An Important Phase is Approaching

With XRP recently establishing a new historical high and starting Wave 5 — the final explosive phase according to Elliott Wave theory — investors are watching every movement of this asset. If the pattern truly repeats as in 2017, a surge to the double-digit price range, even reaching $24, is entirely possible.

However, investors need to closely monitor technical indicators, macro news, and the actions of Bitcoin, as they can directly affect the ability to complete the final bullish wave of XRP.