XRP could be entering the final stage of its current bullish cycle, according to crypto analyst Mr. Xoom.
Using Elliott Wave Theory, he suggests that XRP is no longer in Wave 3, as some traders believe. In his view, XRP has already transitioned into Wave 5, the final leg of the five-wave pattern.
Wave 3 Was the Major Breakout
In his analysis, Mr. Xoom emphasized that Wave 3 is typically the strongest and longest rally in the cycle. He noted that XRP had already surged from around $0.50 to $3.39 during this wave, marking an impressive 575% gain.
For context, this breakout occurred in early November when XRP was last seen at $0.49 and went on to surpass $3 by late January.
Following this, the XRP market entered Wave 4, a corrective phase that consolidated gains before setting the stage for the next move. Notably, during this time, the XRP price lost the $3 level, dipped below even $2, and later touched $1.60 in April.
From this point, the bulls stepped in, and XRP has rebounded massively since then. According to Mr. Xoom’s chart, XRP ended Wave 4 at that $1.60 bottom, commencing Wave 5.
In Elliott Wave Theory, Wave 5 often delivers notable gains. Indeed, since touching a bottom in April, the XRP price has reached its highest point yet.
Specifically, XRP climbed to $3.66 in mid-July, a price level last seen nearly eight years ago. This marked a rebound of around 129% from the April low. Although XRP has cooled off slightly, Mr. Xoom suggests the road to much higher prices remains intact.
Final Push Could See XRP Hit $7–$10
Mr. Xoom projects that the final rally could drive XRP to between $7 and $10. With XRP trading at $3.31 at press time, this promising outlook suggests a potential upside of 111% to 202% from current levels.
The analyst noted that while the rally may not match Wave 3’s intensity, it could still mark a significant peak for this market cycle. For context, a $7 price would put XRP’s market cap at $415 billion — near the valuations of Netflix and Mastercard.
Meanwhile, a $10 price for XRP would imply a market cap of nearly $600 billion, rivaling Visa’s valuation.
Supporting Analysis
Other market watchers have similarly used Elliott Wave Theory to project peak prices for XRP beyond $10.
In April, XForceGlobal, Korea’s first certified Elliott Wave analyst, predicted that XRP was primed for a major breakout to $10 or higher. He cited a completed WXY corrective pattern and a setup for a larger bullish cycle.
Meanwhile, in June, using Elliott Wave analysis and Fibonacci extensions, analyst EGRAG forecast a Wave 5 target between $9 and $10, with a possible stretch to $27 if momentum is sustained.
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