XRP News Today: XRP Targets 247.83% Gain As Wave Five Begins

Technical analyst Steph Is Crypto has identified a potential fifth and final wave for XRP, suggesting that the cryptocurrency could soon reach double digits. This analysis is grounded in the Elliott Wave Theory, which posits a clear 5-wave impulse structure. According to the projection, XRP is currently at the onset of wave five, with the previous wave three peaking at $3.39 in January. This wave three was the most aggressive move in the cycle, paving the way for the current wave five.

The asset’s consolidation since early February formed Wave 4, with XRP falling to a low of $1.64. The recent climb has initiated Wave 5, and Steph has high expectations for this final wave. The steep upward angle of the projected wave five indicates a sharp move toward higher valuations. Steph described this as “the final XRP wave,” suggesting that once this move is completed, a broader correction or cycle top could follow. The visual structure adheres to the classic Elliott Wave model, and the chart suggests that XRP could be headed toward $12. XRP is currently trading at $3.45, and this target represents a notable 247.83% increase for the asset. Notably, other prominent analysts have set similar targets for XRP, adding credence to Steph’s analysis.

If Wave five reaches its full potential, XRP would experience a near 4x move from the $3 range. Such a rally would likely shift market cap rankings and renew interest in XRP’s role in broader financial markets. While XRP had multiple rallies in past market cycles, this would be its most notable rally as it would send it to double digits for the first time. However, some analysts have even more bullish expectations, as one suggested XRP could hit $110 through an Elliott Wave pattern that mirrors its price movements from 2017.