XRP Price Expected to Rally to $6 as Wave 5 Develops
Bulls are regaining control of the market as XRP approaches a potential rally to $6. A crypto analyst has referenced the Elliott Wave Theory, indicating that Wave 5, typically the most explosive phase, is set to begin.
Elliott Wave 5 Indicates Potential Price Surge
- Analyst Dark Defender forecasts a strong rally for XRP, predicting it could reach $6 soon.
- XRP has been following a structured wave pattern since February 2025, with recent actions confirming the completion of monthly Wave 4.
- The fourth sub-wave peaked at approximately $2.36, a key confirmation level, before retracing to $2.07, marking the final leg of sub-wave 5.
- Current analysis suggests Wave 5 has started, with the drop to $2.07 possibly indicating the bottom of the corrective structure.
- Technical projections for Wave 5 suggest a potential upside target near $6.85, pending market momentum alignment.
Analyst Identifies Bullish Breakout Potential
- XRP is nearing a significant technical breakout, with analyst CW noting a classic bull flag pattern emerging.
- This pattern formed after months of consolidation following a price surge from $0.5 to over $2 in 2024.
- XRP is currently testing the upper boundary of this bull flag, trading just above $2.36.
- A decisive close above the resistance trendline could signal the beginning of a substantial bullish movement.
