Artem Voloskovets
After months of choppy price action, XRP might be setting up for something interesting. Despite pulling back from $2.70 recently, XRP is still trading within its broader bullish channel, and the analyst believes the long-term trend hasn't been broken.
The Elliott Wave Breakdown
According to ChartNerd, the token is in the fifth and final leg of an Elliott Wave correction—meaning one last dip could be coming before a fresh rally kicks in.
The chart shows a five-wave correction pattern playing out inside an ascending accumulation channel. Here's how it's unfolded:
- Waves (1)–(3): After hitting $2.70 earlier this year, XRP started pulling back. Wave (1) began the correction, and by Wave (3), the price found support around $2.30–$2.40.
- Wave (4): XRP is currently consolidating between $2.40 and $2.60—a zone where sellers are active but not dominant. It's more of a pause than a breakdown.
- Wave (5): The final leg down is expected to bring XRP toward $2.00–$2.10, possibly with a brief wick below $2.00 to shake out weak hands. Once that completes, the correction should be over.
What's Next?
If the Elliott Wave theory plays out, XRP could briefly touch $2.00 before reversing upward—potentially targeting $3.60 or higher in the coming months. The vertical accumulation channel that's defined XRP's 2024–2025 cycle is still intact, with support around $2.00 and resistance near $3.50–$3.60.
A few things could fuel the next leg up: growing adoption of Ripple's payment network, XRP's expanding role in cross-border settlements, and a possible altcoin rotation as Bitcoin stabilizes. Put it all together, and you've got a technical setup that aligns with improving fundamentals—usually a good recipe for a rally.
XRP's chart doesn't look like a trend reversal—it looks like a final shakeout before the next move higher. The dip toward $2.00 might sting in the short term, but the bigger picture suggests this is just a reset within an ongoing uptrend. Once Wave (5) wraps up, traders could be looking at a fresh rally toward $3.60 or beyond.
Artem Voloskovets
