The current trend for XRP indicates a potential for significant price movement, with analysis suggesting it may reach between $18.22 and $23.20 shortly. This emerging structure depicted on the weekly chart mirrors historical patterns, predicting a similar robust rally witnessed in late 2024.
Anticipating a Major XRP Price Surge
According to recent insights shared by crypto analyst Dark Defender, a unique Elliott Wave formation has been identified on the XRP weekly chart. This analysis highlights the possibility that XRP is nearing the completion of its initial waves, positioning itself for the anticipated Wave 3 surge.
Recently, the coin has successfully surpassed a longstanding descending resistance level, moving towards a critical mid-range target between $5.85 and $6.39 as part of Wave 3. Achieving this target is crucial for setting the stage for an upward trajectory, particularly concerning the higher targets between $18.22 and $23.20. Dark Defender speculates that XRP, presently priced at $2.18, could escalate considerably, potentially reaching up to $23 by November 2025, coinciding with the expected peak of Wave 5.
A noteworthy moment in November 2024 further bolsters this optimistic perspective. The analyst recalls how XRP exhibited a distinct wave formation, leading to significant gains. Currently, a similar pattern appears to be re-emerging, enhanced by firmer technical indicators and a substantial breach of resistance.
Based on the bullish forecast from XRP’s weekly chart, a slight price correction to the $2.1 – $1.92 range may occur before launching into Wave 3. This trajectory could enable XRP to exceed the mid-target, possibly reaching around $11 by September.
Post achieving the peak of Wave 3, an expected correction in Wave 4 may lead to a decline towards the $7 – $8 bracket. Once this phase concludes, XRP is predicted to advance into the bullish Wave 5, targeting a substantial increase between 735% and 963%, aiming for those high-end price levels between $18.22 and $23.20.
XRP MVRV Golden Cross Indicates Significant Movement Ahead
The general sentiment in the market towards XRP is pivoting towards optimism, with analysts forecasting a strong rally. On-chain analyst Ali Martinez highlights that XRP has recently formed a significant Golden Cross between its Market Value and Realized Value (MVRV) ratio and the 200-day Simple Moving Average (SMA).
The formation of this Golden Cross suggests that long-term market sentiment is aligning with a wave of positive enthusiasm. Building on this crucial indicator, Martinez anticipates that this crossover could signify the beginning of the next major upward movement for XRP.
