XRP Surges 3.51% as Analysts Predict 658% Gain

XRP, the cryptocurrency, experienced a period of relative stability on Wednesday, following a strong rally the previous day that saw it recover all losses from the past week. This calm was largely due to investors taking profits as they prepared for the next phase of the market's movement.

Despite this brief pause, the overall outlook for XRP remains bullish. Popular crypto analyst EGRAG CRYPTO suggested that if the price moves within a broadening wedge pattern, it could surge by 658%. EGRAG highlighted that the upper edge of the Ascending Broadening Wedge pattern is currently between $5 and $6. If XRP can close above this level, it could pave the way for a potential measured move reaching up to $17.

This analysis revisits a prior technical assessment from April 5, 2025, where EGRAG identified the same wedge pattern, typically a bearish formation with a 70% chance of breaking lower to $0.65. However, surpassing the $5-$6 threshold could dramatically alter the outlook, potentially triggering a sharp rally to $17. EGRAG has also hinted at an even more ambitious target of $27 in future projections, cautioning that XRP remains volatile and could face unpredictable swings before a decisive bullish move.

Analyst Dark Defender provided a detailed Elliott Wave analysis, identifying the current move as part of a Wave 4 correction. He noted that XRP had bounced precisely at $2.1937, which he projected as the bottom, signaling a likely end to the correction and the beginning of Wave 5, targeting levels between $2.222 and $2.40. Dark Defender urged traders to watch key support at $1.8815 and resistance levels at $2.222 and $2.40, emphasizing that the recent consolidation period between 30 and 50 cents is just the beginning of higher targets.

Adding to the optimistic outlook, analyst Ali Martinez pointed out an emerging inverse head and shoulders pattern on XRP’s chart, suggesting a possible breakout to $2.70, a 20% gain from current levels. Martinez also revealed that XRP network activity had surged by 67.5%, with the number of active wallet addresses increasing from 27,352 to 40,366, indicating renewed interest and buying pressure.

At the time of writing, XRP was trading at $2.23, up 3.51% over the past 24 hours. The recent price action indicates that buyers are in control, with the price breaking above a key resistance level. This development suggests a potential continuation of the upward trend, as the market dynamics favor the bulls. The analyst's call for a $17 target highlights a significant milestone for XRP, which has been gaining traction in the broader crypto market. The bullish momentum is supported by various factors, including increased network activity and positive market sentiment. The $17 target represents a substantial increase from current levels, reflecting the analyst's confidence in XRP's potential for growth.

The analyst's forecast is based on the current market conditions and the recent price movements of XRP. The cryptocurrency has shown resilience and strength, breaking through key resistance levels and maintaining its upward trajectory. This bullish momentum is further supported by the overall positive sentiment in the crypto market. The $17 target is seen as a critical level for XRP, as it represents a significant psychological barrier. Breaking through this level could signal a continuation of the bullish trend, potentially leading to further gains. The analyst's call for a $17 target is based on the current market dynamics and the recent price action of XRP, which has shown strong bullish momentum.