NewsBTC
Nov 9, 2025
20 0

XRP Poised for Bullish Fifth Wave, Analyst Advises Caution

XRP has been experiencing a downtrend, recently rebounding to around $2.30 from a low of $2.12. Despite the broader market slowdown, XRP maintains critical support levels, indicating potential resilience.

XRP Elliott Wave Analysis: 'The Power Of 5'

  • Egrag Crypto's analysis suggests XRP is in the final stages of its fourth impulse wave, preparing for a bullish fifth wave according to Elliott Wave Theory.
  • Historical patterns show that similar setups have preceded significant price surges, as seen in 2017 and 2021.
  • The current chart indicates exponential moving averages suggesting strong support around $2.20.

Analyst Perspective

  • Egrag Crypto predicts potential long-term targets at Fibonacci extensions of $4.789, $5.515, $6.755, and $18.259 if the fifth wave materializes.
  • These targets may serve as resistance points, reflecting past rally structures.
  • Historical skepticism has often preceded major rallies, with one trader losing $30 million shorting XRP before its 2024 uptrend.
  • XRP currently trades at $2.27, down by 1.6% in 24 hours and 9.2% over the past week.