The XRP price may be on the verge of a huge breakout, as a new wave structure points to a potential surge toward the $18.22 to $23.20 price range in the short term. This distinct wave structure has emerged on the weekly chart, echoing historical patterns and well-defined technical frameworks that preceded a significant rally in late 2024.
Massive XRP Price Rally Incoming
At the core of this short-term price analysis published by crypto analyst Dark Defender on X (formerly Twitter) is the appearance of a unique Elliott Wave structure now visible on the XRP weekly chart. According to the analyst’s forecast, XRP is set to complete its first two waves and is getting ready to enter Wave 3.
Recently, XRP broke through a long-standing descending resistance line and is now approaching a key mid-level target around the $5.85 to $6.39 range within Wave 3. While reaching this bullish range is important for the altcoin to initiate its next leg up, the main focus is on the upper targets between $18.22 and $23.20. Dark Defender has boldly forecasted that XRP, currently trading at $2.18, could see a massive price surge to $23 by November 2025, which is the anticipated peak of Wave 5.
A historical reference from November 2024 further reinforces this optimistic outlook. At the time, the crypto analyst notes that XRP displayed a clear technical wave configuration that led to a strong upward move. The same structure appears to be playing out once again, now with stronger technical signals and a decisive resistance break.
Based on XRP’s projected bullish trajectory on the weekly chart, the altcoin is expected to make a minor correction toward the $2.1 – $1.92 range before launching into Wave 3. This next move could see XRP break past the mid-level target and peak around $11 by September.
After reaching the Wave 3 top, a corrective Wave 4 is anticipated, potentially triggering a major breakdown to the $7 – $8 zone. Once this consolidation phase ends, XRP is likely to progress into the final bullish Wave 5, aiming for the ambitious upside target between $18.22 and $23.20, which represents a rally from 735% to 963%.
XRP MVRV Golden Cross Signals Big Move Ahead
The broader market sentiment around XRP is shifting bullish, as experts predict a strong rally on the horizon. According to on-chain analyst Ali Martinez, XRP has just printed a rare and potentially significant Golden Cross between its Market Value to Realized Value (MVRV) ratio and the 200-day Simple Moving Average (SMA).
The emergence of this Golden Cross pattern suggests that long-term sentiment may be aligning with a renewed wave of optimism. Building on this key indicator, Martinez has boldly predicted that this crossover could mark the beginning of the next major leg up for XRP.
Featured image from Getty Images, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Be the first to comment