Peter Smith
XRP (Ripple) is setting up for what could be its final bullish wave, with technical analysis pointing to an explosive 80% rally toward $4.20. The cryptocurrency has been building momentum in a classic Elliott wave pattern that's nearing completion.
XRP has been on a tear lately, consistently hitting higher highs and higher lows since finding its bottom. What's really catching traders' attention is how perfectly this lines up with Elliott wave theory - and right now, it looks like we're entering the final wave that could send prices soaring.
Why XRP Technical Setup Looks So Bullish
Here's what happened: XRP's first major wave corrected down to key support levels, then exploded higher in what technical analysts call wave 3. After hitting all-time highs, the price pulled back to around $2.80, which is exactly where wave 4 corrections typically land at the 0.618 Fibonacci retracement level.
Now XRP appears to be starting wave 5, the final push higher. Technical projections put the target at $4.20 based on Fibonacci extensions - that's where the math says this rally should end up if the pattern completes normally.
Volume Confirms XRP (Ripple) Bullish Momentum
What makes this setup convincing is the volume. Recent sessions show consistent bullish volume spikes, proving there's real demand behind this move. Strong buying interest supporting a technical pattern like this dramatically increases the odds of success.
If XRP pushes above $4.00, it'll break into uncharted territory above the previous all-time high. That kind of breakout typically attracts even more buyers, creating momentum needed to reach that $4.20 target.
What's Next for XRP Price
As long as XRP holds above recent lows and volume stays strong, this wave 5 scenario remains on track. Once XRP hits that $4.20 zone, expect some action - that's where the current Elliott wave cycle would complete, representing an impressive 80% gain from current levels.
Peter Smith
