XRP News Today: XRP Eyes Wave 3 Rally, Holds Above $3.00 Support, Targets $3.82 on Breakout

XRP is navigating a pivotal juncture in its price trajectory, with technical analysis suggesting a potential Wave 3 rally in the works. The cryptocurrency currently trades near $3.19, holding steady above the critical $3.00 support level after a failed attempt to break through the $3.21 resistance. This consolidation has drawn attention from analysts, particularly Casitrades, a market observer known for Elliott Wave analysis. Casitrades argues that XRP has completed a deep Wave 2 correction, reaching an 85.4% Fibonacci retracement of the prior uptrend, and that the absence of a lower low indicates a possible end to the corrective phase [1].

The analyst’s focus is on the $3.00 support level, which has held firm despite recent volatility. A successful retest of this zone could signal the start of a Wave 3 impulse—a historically significant phase in Elliott Wave theory characterized by strong upward momentum. Casitrades projects a Wave 3 target of $3.82, aligning with the 2.618 Fibonacci extension and XRP’s all-time high. Crucially, a breakout above $3.21, especially on rising volume, would validate this scenario and potentially open the path to higher levels [1].

Technical indicators reinforce the bullish case. XRP’s price rebounded quickly from an intraday low of $3.02, demonstrating underlying buying pressure. Analysts from Binance and CoinDesk have highlighted growing institutional interest and dip-buying activity near the $3.00 level. Additionally, volume dynamics are critical: a strong surge above $3.21 could accelerate upward moves, with some analysts suggesting a retest of historical highs and a medium-term target of $4.00–$6.00 if the trend gains traction [1].

Beyond technicals, XRP’s fundamentals are strengthening. Regulatory uncertainty has eased as Ripple’s legal battle with the SEC appears to be winding down. Institutional adoption is also on the rise, with multiple spot ETF applications under review and futures-based XRP products already active. Ripple’s ecosystem expansion, including the growing adoption of its stablecoin RLUSD in cross-border payments, further supports the asset’s utility and token burn rate. Meanwhile, discussions about XRP’s potential inclusion in a U.S. national digital asset reserve—alongside Bitcoin and Ethereum—add a layer of institutional credibility [1].

Market dynamics, however, remain complex. Whale activity has intensified, with large-scale purchases of 130 million XRP noted as the price approaches $3.82 [5]. Yet, short-term volatility persists. Ripple co-founder Chris Larsen’s $175 million XRP transfer in early July triggered a 14% price decline, underscoring the asset’s susceptibility to large sell-side events. This came after a 65% rally between July 6 and 18, which pushed XRP to an eight-year high of $3.66 before a subsequent 13.65% drop amid $100 million in long liquidations [2].

Price projections vary but remain cautiously optimistic. Brave New Coin analysts predict a surge to $5–$8 by late 2025, while Bitget and Peter Brandt forecast a 60% rally to $5 [7]. A breakout above $3.25 could further validate XRP’s wave-4 bottom, potentially propelling it toward $5.50 [8]. These forecasts hinge on sustained support at $3.00 and confirmation of a Wave 3 impulse.

The coming weeks will be critical for XRP. A sustained rally above $3.21 would provide the first major test of the asset’s ability to transition into a prolonged bullish phase. Conversely, a breakdown below $3.00 could reignite bearish momentum. Given the interplay of technical, institutional, and macroeconomic factors, market participants are advised to monitor key levels closely while acknowledging the risks inherent in a highly volatile market.

Sources:

[1] [Analyst Suggests XRP Wave 3 Rally About to Start] (https://timestabloid.com/analyst-suggests-xrp-wave-3-rally-about-to-start/)

[2] [Ripple Co-Founder Sparks Sell-Off Fears After $175M XRP Transfer] (https://www.techi.com/ripple-cofounder-175m-xrp-transfer-price-impact/)

[5] [Whales Scoop Up 130M XRP as Price Eyes $3.82] (https://coingape.com/whales-scoop-up-130m-xrp-as-price-eyes-3-82/)

[7] [XRP is Rising Today, but Can It Stay Above $3.66 as AI Cloud Mining Booms?] (https://m.economictimes.com/news/international/us/xrp-price-prediction-xrp-is-rising-today-but-can-it-stay-above-3-66-as-ai-cloud-mining-booms-and-why-is-ripples-co-founder-under-fire-over-a-175m-token-dump/articleshow/122905639.cms)

[8] [XRP Breakout Above $3.25 Could Trigger Rally to $5.50] (https://coinpaper.com/10137/crypto-breakout-watch-3-25-surge-could-ignite-xrp-s-run-to-5-50)