XRP Poised for $10 Surge with Elliott Wave & EMA Strategy

XRP may be on the cusp of a significant breakout, as a respected market analyst highlights promising indicators that suggest the cryptocurrency could reach the $10 level. According to EGRAG, a well-followed technical analyst, various tools from traditional market theory and crypto-specific analysis are aligning to support XRP’s bullish trajectory.

In his recent analysis, EGRAG merged insights from the Kangaroo Technique, the Gaussian Channel, the 21-week Exponential Moving Average (EMA), and Elliott Wave Theory. These combined charts indicate that XRP’s ongoing consolidation could soon reverse into a strong uptrend.

The Role of Gaussian Channel, 21 EMA, and the Unique Kangaroo Technique

One of EGRAG’s primary indicators is the Gaussian Channel, a technical indicator used to identify trends and support-resistance zones. In the current setup, XRP is maintaining a price above the top boundary of this channel, which currently sits at $1.75. EGRAG underscores this as a vital threshold—remaining above it on a weekly basis reinforces a bullish trend, while a close below may signal a medium-term correction.

Using what he dubs the “Kangaroo Technique,” EGRAG placed kangaroo markers at historic support and resistance levels. One notable marker is positioned around $0.06, referencing 2017 as a period when this zone acted as a springboard for XRP’s record peak near $3.80. Another appears at approximately $3.40, interpreted as potentially serving a similar function in the current cycle.

Additionally, the 21 EMA is considered a dynamic line of support beneath XRP’s current price. As long as XRP stays above this level, EGRAG maintains a bullish outlook, likening the current structure to the 2017 rally buildup. He suggests that XRP may mirror that pattern, particularly if bullish momentum picks up in July. Conversely, a failure to break higher could mean a 110-day sideways phase before momentum resumes.

Breaking Key Levels: Elliott Wave Theory and Near-Term Targets

EGRAG’s second chart focuses on XRP’s movement relative to Elliott Wave patterns—a staple in technical analysis used to measure crowd psychology and future price action. Here, $2.33 is flagged as the next resistance level, followed closely by $2.65. A weekly close above $2.65 is dubbed the “go-go signal,” confirming a potential rally continuation.

Despite broader market turbulence, XRP is holding steady above $2, staying well above the critical $1.75 line. EGRAG sees the current pullback as a normal market correction rather than a trend reversal—provided that XRP avoids falling below that crucial support.

The third and most ambitious chart presents XRP within Wave 5 of the Elliott Wave cycle, typically signifying the last and strongest upward move in that sequence. EGRAG estimates a potential 477% surge, projecting XRP’s peak within the $9 to $10 range. This aligns with historical performance and Fibonacci extension ratios calculated based on prior waves.

Could XRP Extend Toward $27?

Stretching beyond the $10 ambition, EGRAG hinted at an extended target zone between $27 and $222, based on accumulated momentum and historic analogues. He referenced a previous analysis where XRP’s longer-term potential was discussed more broadly within the “kangaroo phase.” However, these upper-range targets depend heavily on sustained bullish sentiment and volume confirmation.

Despite the optimistic projections, EGRAG acknowledges risks remain. A break below $1.75 would undermine the bullish structure and invalidate current trading setups. If XRP convincingly clears $2.33 and then $2.65 while maintaining above those support levels, it could set the stage for the anticipated leap toward $10.

Related: Expert Advice: Sell XRP If You’re Confused

For traders and investors closely watching XRP, the coming weeks—especially leading into July—could prove pivotal. Monitoring technical support and resistance levels will be essential in validating whether this speculative rally aligns with historic cycles or returns to consolidation mode once again.