XRP's Wave 3 Breakout Imminent, Targets $6.50-$12+

Crypto analyst and trader CasiTrades has reaffirmed their bullish outlook for XRP, maintaining that the projected breakout in April is still a plausible scenario. In a recent market update, supported by a detailed 4-hour chart analysis, CasiTrades presented an Elliott Wave interpretation suggesting that XRP is nearing the conclusion of a Wave 2 corrective phase. According to the analyst, the conditions remain intact for a significant Wave 3 impulse move that could drive XRP to new highs within weeks.

From a broader technical perspective, CasiTrades emphasizes that not much has changed on the macro timeframe. The focus now rests on the completion of the corrective structure. XRP has demonstrated solid support at the 0.5 Fibonacci retracement level around $1.90. However, the analyst notes that a deeper retracement to the 0.618 level at $1.55 remains the most statistically probable scenario for a corrective low. This zone is highlighted as the key area where a potential bottom could be established before a strong upward move resumes.

CasiTrades identifies $2.24 — the 0.382 Fibonacci retracement — as a critical resistance level. A confirmed breakout above this line would invalidate the likelihood of revisiting lower supports such as $1.55 or $1.90. The analyst suggests that once XRP convincingly breaks and holds above $2.24, the market will shift decisively in favor of bullish continuation. Price action near this resistance will be key to confirming the next phase of the move.

Regarding Elliott Wave theory, the analyst posits that XRP is concluding its Wave 2 correction. Whether the low is already in place or if one final test of support is required, CasiTrades maintains that a macro Wave 3 is imminent. The projected extension targets for Wave 3 are derived using standard Fibonacci extension metrics. CasiTrades outlines three key target zones: $6.50 (the 1.618 extension), $9.50 (the 2.618 extension), and $12+ (the 3.618 extension), with the latter two identified as increasingly likely scenarios depending on the strength of the move.

The assertion is grounded in classical Elliott Wave logic, which states that one of the impulse waves — typically Wave 3 — must extend. According to the update, if Wave 3 begins within the expected timeframe, the move to higher levels could unfold over weeks, not months. As of now, XRP is trading near $2.10, with relative strength index (RSI) values hovering around the midline, reflecting a neutral momentum state. Volume and price action in the coming days will be decisive, especially if XRP approaches the green support box or begins to test the $2.24 resistance zone once again.

CasiTrades concludes that the correction is either complete or very near completion. With the chart reflecting potential for a rapid continuation, the late-April timeframe continues to align with the original breakout projection. The analyst reiterates that the setup is not based on speculative enthusiasm but on well-established Fibonacci retracement and extension frameworks coupled with Elliott Wave principles.