XRP Price Outlook: Analyst Foresees Final Wave Surge

XRP may be approaching the last phase of its ongoing bullish trend, according to renowned crypto analyst Mr. Xoom. Leveraging the principles of Elliott Wave Theory, he believes XRP has moved beyond Wave 3 and is now firmly in Wave 5 — the conclusive stage of this classic five-wave pattern.

In his updated analysis, Mr. Xoom challenged the widespread notion that XRP is still dwelling in Wave 3. He stated that the historic breakout from about $0.50 to a peak of $3.39 marked the culmination of Wave 3. This remarkable surge, equating to a 575% gain, began in early November and exceeded the $3 threshold by the end of January.

Following the dramatic rally, XRP entered Wave 4 — a natural retracement period within Elliott Wave Theory. This corrective phase saw the token shed significant value, dipping below $3 and ultimately hitting a low of $1.60 by April. Despite this downturn, bullish forces regained control at this level, laying the groundwork for a strong recovery.

According to Mr. Xoom, this April low marked the completion of Wave 4. From there, XRP kicked off Wave 5, a phase typically characterized by renewed upward momentum. The token’s resurgence has been nothing short of impressive. By mid-July, XRP had skyrocketed to $3.66 — a price it hadn’t seen in nearly eight years. That move reflected a sharp 129% rebound from the April trough.

While XRP has experienced minor declines since, the analyst maintains that the macro bull trend remains intact. Wave 5 often brings substantial upside, and Mr. Xoom is optimistic about its potential peak.

Wave 5 Targets Suggest XRP Could Soar Further

Mr. Xoom projects that XRP could top out between $7 and $10 before this bull cycle concludes. With the cryptocurrency currently trading at $3.31, this range reflects a potential increase of 111% to over 200% from its current price level.

Should XRP reach $7, its total market capitalization would approach $415 billion — aligning it with globally significant companies such as Netflix and Mastercard. Meanwhile, a $10 valuation would elevate XRP’s market cap to approximately $600 billion, placing it alongside financial giants like Visa.

Though he doesn’t expect the same magnitude of gains as seen in Wave 3, Mr. Xoom believes this final surge could still represent a defining moment for XRP in the ongoing market cycle.

Broader Support for Bullish Outlook on XRP

Mr. Xoom isn’t alone in his optimistic perspective. Other market analysts have echoed similar forecasts using Elliott Wave techniques.

Back in April, Korea’s first certified Elliott Wave expert, XForceGlobal, predicted a significant upward move for XRP. He noted the completion of a complex WXY correction and outlined conditions for a bullish Wave 5 breakout that could propel XRP to $10 or more.

Then in June, crypto analyst EGRAG used a combination of Elliott Wave and Fibonacci projection tools to forecast price targets between $9 and $10 for XRP. He also left the door open for a possible extension to $27 — assuming bullish momentum holds up in the coming weeks and months.

Related: XRP Price: $12M Max Pain for Bears

While these figures remain projections, they reflect a growing sentiment among technical analysts that XRP may have significant room to grow within its current wave cycle. With institutional interest on the rise and technical indicators aligning for a continued breakout, XRP remains one of the market’s most closely-watched digital assets.