The price of $XRP continues to show strong fluctuations following a market retracement. A recovery above $3 remains unstable, especially since it appears the sellers have not yet exhausted their strength. The token is currently trading slightly below $ 3.

As a result, XRP price predictions have been revised, and there are new speculations about how high it could rise from here. That said, one crypto analyst remains firm in his prediction, saying XRP is still on track to hit its $5 target .

💥XRP Still Targets $5 Despite Decline

In a market environment characterized by a general downturn and a cautious sentiment among investors, the More Crypto Online analyst reiterated his positive forecast for the XRP price . Despite the climate of uncertainty and prevailing caution, he emphasizes that the Ripple token's bullish momentum remains solid and intact.

The market is currently experiencing a retracement that can be identified as wave 4 in Elliott Wave theory , specifically the "yellow wave" of the current bull cycle. This retracement is around 50%, creating a solid support area just above the $2.60 level. After completing what is interpreted as wave 3 and finding confirmation in support, XRP could be poised to begin a new uptrend, thus marking the continuation of its positive momentum.

This trend suggests a potential turning point that could reinvigorate investor interest, consolidating the medium-term bullish trend . Currently, the bulls appear to be holding their positions well, suggesting the recent decline was merely a temporary correction . According to the analyst, as long as the decline is seen as a corrective wave, there's no reason to worry. Otherwise, it could be the beginning of a deeper decline.

💥Waiting for a new wave

The completion of the fourth wave suggests that the fifth wave may begin soon . According to Elliott Theory, the fifth wave is always the most bullish and tends to surpass the highs reached by the previous bullish waves 1 and 3. It is at this point that the real move begins.

With support at $2.60 strengthening , this level could serve as the starting point for the final leg of the rally, which in turn could mark the end of the bull market. According to wave theory projections, XRP's price could nearly double, peaking around $5.

“As long as retracements remain corrective and hold above the weekend low, the yellow scenario remains confirmed,” the analyst stated.

However, there's also a possibility that the uptrend could be invalidated from this point, which could happen if buyers fail to hold the support at $2.60. A break below this level would open the door to a drop of at least 10% , with the analyst predicting that XRP's price could drop as low as $ 2.21.

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