XRP Price Surge: Elliott Wave Targets $17 to $20

XRP Price Projection: Elliott Wave Analysis Targets $20 to $66

Crypto analyst Egrag Crypto has presented a detailed Elliott Wave analysis for XRP, projecting a potential price range between $20 and $66 in its fifth wave. His analysis, grounded in mathematical principles rather than speculative hype, breaks down the wave structure and price movements based on Elliott Wave Theory. The accompanying chart and patterns further reinforce his technical outlook.

Wave 1: Establishing the Baseline

Egrag Crypto highlights that Wave 1 initiated a strong price movement for XRP, marking an impressive 510% increase. This percentage serves as the foundational reference point for projecting future waves. The first wave establishes the trend direction and sets the stage for subsequent price movements.

Wave 2: Corrective Structure and Bear Trap

Wave 2 is unfolding, with Egrag Crypto identifying it as an expanded or irregular flat correction. He explains that in such formations, the B wave must exceed the starting point of wave A, which is evident in the current chart. He emphasizes that this wave formation is challenging to predict in its early stages, as its expanding triangle structure involves diverging trendlines that increase unpredictability.

In his analysis, Egrag Crypto anticipates a temporary bull trap, pushing XRP’s price toward $3.7 to $3.9, followed by a final correction that could dip below $1.77 before the end of Wave 2. He warns that this corrective move may extend beyond 50% retracement, forming a bear trap that shakes out weak hands before the next impulsive wave.

Wave 3: The Most Powerful Bullish Move

Wave 3 is widely recognized as the strongest wave in Elliott Wave Theory, characterized by intense bullish sentiment and significant price expansion. According to Egrag Crypto, this wave is expected to extend 1.618 times the length of Wave 1, which recorded a 510% increase.

Based on this projection, Wave 3 could drive XRP’s price up by 800% to 1000%, resulting in a price target of $17 to $20. This wave often sees heightened buying interest and increased volume as the market enters a highly bullish phase.

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