Peter Smith
The cryptocurrency market continues to watch XRP closely as technical analysts identify what could be a pivotal moment in its price structure. Following an extended corrective phase, chart patterns suggest the altcoin may be positioning itself for a significant upward move. With Elliott Wave analysis pointing to a completed Wave 4 and the potential beginning of Wave 5, traders are mapping out ambitious price targets that could reshape XRP's trajectory in the coming months.
XRP Wave 5 Could Target $18 After Corrective Phase Ends
XRP may be positioned for a meaningful upward move after technical patterns suggest that corrective Wave 4 has concluded and an impulsive Wave 5 could be starting. The chart shows a classic Elliott Wave count with the recent low potentially marking the end of Wave 4 and a new advance beginning. The weekly technical setup highlights Fibonacci extension levels such as 161.80 percent around $1.88 and more aggressive targets rising toward $5.85 and ultimately near $18.22 on the long-term projection.
The attached chart shows that XRP price has previously completed the first major impulse wave labeled Wave (1) and corrective Wave (2), followed by a strong Wave (3) advance. The subsequent corrective Wave (4) is traced along a down-sloping structure where price found support, and momentum indicators such as RSI dipped into lower regions before exhibiting early signs of stabilization.
Fibonacci Extensions Map $5.85 and $18.22 Price Objectives
Fibonacci extension targets visible on the chart are common tools used in technical analysis to measure potential price extensions beyond prior swing highs. In this case, the 261.80 percent extension sits near $5.85 and the 361.80 percent extension is mapped near $18.22, forming a series of escalating technical objectives if Wave 5 gains traction. The RSI readings displayed also suggest that momentum may be shifting from bearish to more neutral conditions after testing lower bands, which historically can signal the end of deep corrective phases.
The scenario outlined matters because Elliott Wave structures and Fibonacci extensions are widely referenced frameworks that can illuminate potential price path projections following extended corrections. If the count holds and Wave 5 unfolds as projected, XRP could see extended range expansion phases over time. However, the outcome remains contingent on price respecting key support zones and maintaining structural integrity within the broader trend.
Peter Smith
