XRP Nearing Explosive Breakout
A top Korean Elliott Wave expert has forecasted that XRP may move between $10 and $40 over the next few months, which reflects possible gains of as much as 1,726% from current market levels.
XForceGlobal, Korea’s first ever certified Elliott Wave analyst, is of the view that the cryptocurrency has entered the completion phase of its correction cycle and now stands ready to go into a big bull run.
Technical Pattern Signals End Of Downward Trend
XRP has completed what technical analysts term a “WXY corrective pattern” as per XForceGlobal. The technical pattern has often indicated that a period of a pullback is concluding.
The analyst said Wave W was the initial response of the market to profit-taking once XRP had risen six times in price. Wave X momentarily picked up the upward trend with minimal momentum before Wave Y concluded the correction with another orderly downward trajectory.
The cryptocurrency fell approximately 50% from its January 2025 peak of $3.33 to a low of $1.638. However, it has since rebounded by 34% to trade at $2.20 at the time of reporting.
