TLDR:
- XRP Wave 4 correction ends at $1.40, setting stage for a bullish Wave 5 move around $7.29.
- EMA Ribbon historically marks consolidation points before XRP price surges, guiding target levels.
- XRP price could reach $8 to $27, reflecting patterns from 2017 and 2021 market cycles.
- Technical analysis highlights Wave 4 misleads traders, but next bullish phase may follow historical trends.
XRP is showing renewed technical signs after a period of market uncertainty. Traders are closely watching the cryptocurrency’s EMA Ribbon for early bullish signals. Recent Elliott Wave analysis suggests that Wave 4 has completed, potentially setting up a Wave 5 surge.
Price targets range widely based on historical cycles, drawing attention from investors. Analysts emphasize measured moves and past patterns to assess future price potential.
XRP Price Targets Driven by Wave 4 Completion
Crypto analyst EGRAG CRYPTO highlighted that XRP is likely in Wave 4, following a corrective phase that retraced part of Wave 3.
Wave 4 ended at $1.40, establishing a base for the next upward move. Calculating the 1.618 extension of Wave 3 suggests a potential Wave 5 target near $7.29.
Historical data shows Wave 4 corrections often mislead traders into selling prematurely. Past bull markets for Bitcoin demonstrate similar behavior, where Wave 4 consolidation preceded stronger Wave 5 surges.
Analysts stress that Wave 4 typically does not result in a complete market reversal but serves as a pause before a bullish continuation. The current setup aligns with these historical trends.
Using Wave 1 and Wave 3 data, the projected range suggests XRP could reach the $7-$8 range in the near term.
Macro trends indicate a larger bullish pattern may develop, reflecting a super macro bullish trend similar to previous cycles. Traders are encouraged to monitor price action around key support levels and EMA Ribbon touchpoints.
EMA Ribbon Signals for XRP Price Movement
The EMA Ribbon on the monthly chart has historically acted as a consolidation zone before price surges.
Analysts compared patterns from 2017 and 2021, noting consistent dips into the Ribbon prior to major upward moves. Currently, XRP has only slightly touched this zone despite recent market volatility.
Measured moves from prior cycles suggest multiple price targets. The 2021 cycle points to $8, while the 2017 final leg implies a potential $27 peak. Averaging these, analysts suggest $20 as a reasonable medium-term target.
Technical followers emphasize that strength varies, but the EMA Ribbon continues to guide strategic entry points.
EGRAG CRYPTO reminded the XRP community to stay steady and focus on technical levels. Support from historical EMA Ribbon trends reinforces confidence in potential bullish moves. Investors are advised to observe market reaction closely before adjusting positions.
