The XRP price indicators continue to build optimism among analysts as technical patterns suggest the digital asset may be nearing a major breakout. After spending the last week in a tight trading channel between $2.04 and $2.18, XRP is drawing increased attention for its promising structure, with experts pointing to a potential rally ahead.
Recent market activity saw XRP hit a local high of $2.14 on April 21 before pulling back to around $2.07, a move that fits within its corrective pattern. Market analyst Casi Trades has revisited XRP’s trajectory using Elliott Wave theory, identifying the current phase as Wave 2 in the five-wave cycle—typically a consolidation stage that often precedes a strong bullish push.
According to her latest analysis, XRP encountered resistance at the 0.618 Fibonacci retracement level, just above $2.10. This level often serves as a ceiling where price movements lose steam, which was evident as XRP was quickly rejected after testing this point. While the asset struggled to break past this level, Casi maintains her view that a potential Wave 3 could emerge if support remains intact.
Wave 3, by Elliott Wave standards, is typically the strongest upward movement in the cycle. It generally follows Wave 2, which is usually marked by indecision and retracement. Previously, XRP had surged to $2.25 during a likely Wave C phase mid-April. Casi now predicts that XRP could be poised for its most aggressive rally yet, aligning with broader crypto market developments, particularly Bitcoin’s behavior.
Casi also emphasized two major support zones along XRP’s price chart — $1.90 and $1.55. As long as XRP maintains levels above these markers, the likelihood of entering Wave 3 increases significantly. Her forecasts outline ambitious extension price targets using the Fibonacci model: $6.50 at the 1.618 level, $9.50 at the 2.618 extension, and potentially beyond $12 if the full move plays out to the 3.618 extension.
Further insights from her analysis incorporate momentum tracking via the Relative Strength Index (RSI). As of her latest update, XRP’s RSI stands at 39.92, which signals neutral momentum—it’s neither overbought nor oversold. However, the trend direction raises some caution. Despite XRP’s price moving sideways or showing slight gains, the RSI has been drifting downward, a situation known as bearish divergence. This typically suggests weakening market strength, though it may also point to an imminent end to the corrective phase if key levels hold.
Adding to the bullish case, analyst Papa shared an even more optimistic view about XRP’s potential. He compared the asset’s recent consolidation to historical patterns observed during XRP’s spectacular 2017/2018 run. Back then, XRP went from $0.0055 to $0.3988—a nearly 7,900% rally—followed by a minor correction and a massive jump to $3.31 in early 2018.
Now, Papa observes a similar setup. From its November 2024 low of $0.50, XRP surged to $3.39 by January 2025, before sliding about 39%. While the 2017 run featured a symmetrical triangle pattern, XRP now appears to be forming a parallel channel, which could act as a foundation for a major breakout. Should XRP push past the $3 resistance level, Papa believes this could spark a trend similar to its previous surge, projecting a top price of around $14.
Taken together, these analyses point to a pivotal juncture for XRP. The cryptocurrency is navigating critical support and resistance levels, with chart patterns and momentum indicators aligning to suggest a larger breakout may be on the horizon. Traders and investors are now watching closely, ready to respond if Wave 3 finally takes shape.
For more on XRP projections, including why holding 1,000 XRP could be a life-changing investment, and a comparative look at XRP returns versus gold here.
