With XRP’s price standing in status quo for 24 hours just above the $2 support level, technical analysis points to a bounce back on Wave 3. Based on the Elliott Wave theory, this setup implies that XRP coin is attempting to breach two local resistances, highlighted in Tara’s chart.
XRP’s Wave 3 Has Two Price Hurdles To Clear
Trading since 2015, the OG crypto trader spotted a potential to reach Wave 3 when XRP’s price recovers the $2.18 & $2.30, respectively. The dynamic Elliott Wave approach lets popular crypto analysts adjust the following two waves based on the performance of the third one, expected to take XRP’s price to $2.73.
This theory is strengthened by the Inverse Head ‘n’ Shoulders structuring, appearing on Ripple coin’s (XRP) 1-day chart. This setup, often marking a price trend reversal, has the right shoulder leaning on $2.20, which falls in line with the lower target marked by the previous price analysis.
What Factors Will Contribute To XRP’s Rally?
If the remaining days in the year catch on with this forecast, XRP’s $2.73 price would still be far away from the yearly high, which is also the all-time record. XRP coin skyrocketed to $3.65 last Summer, when the SEC concluded its Ripple case with a $50 million settlement after 6 years of intense legal battles.
With the numerous Ripple exchange-traded funds (ETFs) pulling in millions of dollars a day on traditionally-regulated Wall Street markets, long-term XRP coin owners expect the rising stock market liquidity on XRP to eventually reflect in crypto’s Spot markets. Right now, XRP Ledger’s market cap stands at $125.128 billion, the third largest crypto currency around the globe.
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Analyst Tara sees XRP entering Wave 3 of an upward Elliott Wave pattern, targeting $2.73 by the end of 2025 if momentum builds.
Price must break key resistances at $2.18 and $2.30 with a strong upward impulse. Once clear, the rally to Wave 3 could accelerate.
Current support sits at $2.07. A brief dip there could happen, but holding above it would strengthen the bullish technical setup.
This is just Wave 3; Waves 4 and 5 could follow, potentially pushing higher into 2026, though targets adjust based on Wave 3’s peak.
No—technical patterns like Elliott Waves are guides, not guarantees. Stay tuned for updates as price tests these XRP price levels.
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