Ripple’s XRP, one of the top-performing cryptocurrencies last year, is currently trading between $2.15 and $2.30. This price is significantly lower than its 52-week high of $3.38, achieved on January 17th, which was fueled by heightened enthusiasm regarding the potential reelection of US President Donald Trump.
Despite XRP’s alignment with the downward trend in the broader crypto market, some commentators and analysts are optimistic about a major rally on the horizon. Egrag Crypto, a renowned crypto analyst, recently pointed out that XRP may be on the verge of another price surge, having compared the asset’s current Elliott Wave structure to that of its 2017 fractals.
XRP Continues to Weather the Storm
Egrag Crypto’s latest price analysis comes amid a downturn for both XRP and the wider crypto market. The token has managed to maintain its position above the crucial $2 support level, suggesting that it is currently following the classic five-wave Elliott Wave model. Historically, assets that mimic the Elliott Wave structure tend to experience significant price movements.
#XRP = Thread (1/7) #XRP: Double Digits This Cycle, Triple Digits Next!
The thread below about #XRP was shared in the Subscribers section on February 12, 2025.
We’ve built together the Full Elliot Wave Count to assess our next Targets:
Take an in-depth look at it!
… pic.twitter.com/NKv00Y5MZD
— EGRAG CRYPTO (@egragcrypto) March 12, 2025
According to Egrag’s analysis, XRP is currently situated within the second wave of the Elliott Wave structure, which is characterized by notable price volatility and corrections.
Traders and Investors Must Watch Out for the Larger Wave Structure
In a recent post on Twitter/X, Egrag explained that XRP is currently in its corrective wave two and is poised for a substantial price run to potential double digits, or even more than $100.
The analyst clarified that a Wave 2 typically retraces a portion of Wave 1, frequently aligning with 50%, 76%, or even up to 85.4% of the initial movement. XRP, according to Egrag, is solidifying its position during this correction phase.
With bearish pressure present, the market can anticipate a ‘double bottom’ before entering Wave 3. EGRAG cautions that Wave 3 is often the most volatile segment of the cycle.
Can XRP Hit $100 or More?
Previously, XRP’s Wave 1 pattern displayed a massive 733% increase in value. Utilizing the Elliott Wave extension formula, Egrag suggests XRP’s Wave 3 could extend beyond 1.618 times the gain of the first wave, indicating a possible increase of 1,185%, which would place XRP’s price between $22 and $24.
Upon reaching the peak of Wave 3, a price correction typically follows in Wave 4, which could see XRP retrace between 14% and 38.2% of Wave 3 before falling back to around $8.
The fifth wave will proceed next, with potential price predictions calculated using three different methods. Firstly, if XRP’s price rises between 1.236% and 1.618%, the asset might range from $32 to $48. Secondly, if Wave 5 mirrors the movements of Wave 1, prices could soar between $60 and $70. Lastly, should there be a 61.8% expansion of the movements of Waves 1 and 3, XRP has a chance to reach the $100 mark.
Featured image from Medium, chart from TradingView
