XRP News Today: XRP Poised for 255% Rally to $8.08 as Elliott Wave Theory Predicts Bullish Wave

XRP, the cryptocurrency, is currently trading near $2.27, forming a wave pattern that suggests a strong upward movement towards $8.08. This prediction is based on the Elliott Wave theory, which indicates that XRP is in a tight corrective phase but is poised for a sharp rally. The chart analysis, published by analyst Michael_EW, shows that XRP is forming a bullish wave structure, with the next upward impulse wave expected to complete the final leg of a larger five-wave cycle.

The technical chart reveals that the fourth wave correction is nearing completion, with support established near the $0.685 level. Fibonacci levels plotted on the chart indicate strong retracement zones at $1.231 and $0.967, which align with prior consolidation points. These zones mark the base of wave four, from where the fifth wave is now expected to launch. The target for the fifth wave sits at $8.08, roughly 255% above the current market price. A trendline connecting wave two and four’s lows supports the current pattern, and the price action remains consistent with classic Elliott Wave theory, with overlapping wave formations confirming the model.

The visible range volume profile displays thick volume nodes between $0.68 and $1.00, forming a strong support cluster. These areas reflect prior accumulation zones, giving XRP a firm base to continue its projected move. A light red bar marks the low-volume node that may act as resistance during the next wave’s progression. The daily chart from Bitstamp also shows a breakout attempt above the $2.25 mark. Volume remains stable, with short-term indicators showing neutral momentum. A bullish divergence on the stochastic RSI points to a potential upward reversal in the coming sessions.

Michael_EW’s chart was posted on social media and gained significant attention from retail traders and chart watchers. Analysts are monitoring price reaction near $2.27 closely. The lower panel shows the stochastic RSI bouncing near oversold levels. Both RSI and MACD indicators have bottomed out, hinting at upward price movement. These technical signals, paired with wave structure and volume zones, reinforce the idea of a continuation rally.

XRP’s price history shows similar setups before major breakouts, with corrections often leading to new multi-year highs. The fifth wave projection to $8.08 implies a breakout phase that could unfold in the second half of 2025. If confirmed, this move would mark one of the largest percentage gains since the 2021 cycle. Traders are cautious but optimistic as XRP stays above critical retracement levels. The chart’s symmetry and repeated wave formations make it a case study for Elliott Wave analysis. All elements—price, pattern, and structure—align with the potential for a continuation toward $8.08.