$XRP The perspective that XRP could reach $8 has captured the attention of the crypto community. After gaining 7% today, the price stands at $2.19. Traders are now debating whether this rally could be the start of a significant final wave in XRP's long-term Elliott Wave structure.
Charting Guy, a respected technical analyst on X, shared his opinion about X. He traces the rise of XRP from the low of $0.38 in 2023, labeling it as the start of a sequence of multiple waves. According to his analysis, XRP is now in an extension of wave 5, pointing towards $8. This projection is both ambitious and carefully considered.
👉Elliott Wave Configuration
In his analysis, Charting Guy identifies waves 1 and 2 as completed in early 2025. Wave 3 followed with strong upward momentum. Wave 4 developed as a complex corrective pattern A–B–C, retracing part of the gains of wave 3. He interprets a bounce from $2.72 to $3.38 in August as a wave B, suggesting that the correction of wave C is underway.
Fibonacci levels are central to his methodology. Retracements such as 0.786 ($2.87293) and 0.888 ($3.1273) highlight key correction zones. Extension levels at 1.272 ($4.63) and 1.618 (~$5.39) mark potential upside targets for wave 5 before reaching the ceiling of $8.
👉Key Price Levels and Risks
XRP must reclaim $2.65 to confirm the bullish path. Failing to do so could push the price back. He warns that without a clear breakout, the target of $8 may remain out of reach. He also notes that an extended move towards $8 could happen later in the year, but the timing is uncertain.
👉Comparison with Other Analysts
Charting Guy's target is more optimistic than some Elliott Wave analysts, but more cautious than extreme forecasts. Others project smaller targets, such as $3.88, based on reverse retracement calculations. However, some aggressive analysts see the level of $8+ as achievable if wave 5 fully extends, creating excitement among long-term holders.
👉Conclusions for Investors
Charting Guy's analysis highlights a potential path for XRP but emphasizes caution. The correction of wave 4 may not yet be complete. Clear breakouts above resistance zones are required to maintain momentum. Traders should prepare for volatility in both directions while monitoring Fibonacci levels and Elliott Wave developments.
In conclusion, the target of $8 remains a plausible and carefully reasoned projection. However, XRP's journey there may involve additional corrections and sideways consolidation before a decisive breakout occurs. Investors should remain patient and disciplined.#xrp #Ripple #Marialecripto #BTCRebound90kNext? #BTCHashratePeak $XRP $SOL
