XRP is currently drawing increased attention as technical analysts examine whether an ongoing Elliott Wave pattern could signal a major move higher, potentially lifting the digital asset above several key future price levels.
Egrag Crypto outlines macro Wave 5 structure
Egrag Crypto, a widely followed crypto market analyst known for his long-term chart analyses, published his latest macro chart for XRP on social platform X. He focused on the development of the first, third, and anticipated fifth waves in the three-month timeframe, utilizing Elliott Wave Theory.
The analyst observed that Wave 1 resulted in a 225% price increase. Meanwhile, he estimated Wave 3 reached between 300% and 365%, depending on the measurement standard applied. Although this movement did not perfectly mirror textbook projections, Egrag Crypto noted that the structure remains valid even when individual wave sizes vary.
Egrag Crypto emphasized that the chart structure on the three-month timeframe is “speaking loudly,” showing a defined macro sequence with Waves 1 through 4 already completed while highlighting the significance of the projected Wave 5.
He set XRP’s current level on the chart at around $1.36. In his analysis, several Fibonacci retracement levels within Wave 4 are used to determine future price targets and to reinforce the technical argument for his projections.
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AAPLElliott Wave Theory, the model applied in this analysis, segments market cycles into five distinct waves, each suggesting a unique phase of investor psychology and market momentum. Wave 5, the final leg, typically captures the culmination of major bullish cycles.
Mini dictionary: Elliott Wave Theory, a technical analysis approach, divides price movements into five waves that alternate between bullish and bearish trends. Wave 5 often represents the final surge of a broader bullish phase.
$6.19 to $8.07 identified as initial target zone
Egrag Crypto calculated that the combined performance of Wave 1 and Wave 3 amounted to approximately 589%. Using a common methodology for projecting Wave 5, he applied a 61.8% measurement of this combined move to estimate the next price range.
This approach produced a primary target zone for Wave 5 between $6.19 and $8.07. The chart highlights these levels not only as Fibonacci extensions but also as crucial milestones based on the underlying wave percentages.
Egrag Crypto pointed out that the primary roadmap involves $6.19 and $8.07 as major technical targets in the next strong upward wave, supported by both his percentage-based and Fibonacci analyses.
He further identified $11.45 as a significant extension level within the Wave 5 structure. Above this mark, his chart maps out a potential expansion into the $13-plus cycle, hinting at further upside if bullish momentum persists.
| Wave | Performance | Target Range |
|---|---|---|
| Wave 1 | 225% | N/A |
| Wave 3 | 300% to 365% | N/A |
| Wave 5 | N/A | $6.19–$8.07 (initial), $11.45 (extension) |
Macro targets topped by $17
Egrag Crypto’s analysis sets the highest macro target for XRP above $17. He described this level as a potential scenario if the fifth wave achieves greater-than-expected momentum, causing prices to overshoot even the ambitious initial projections.
His roadmap outlines an initial focus on the $8 to $11 range, with expansion toward $13 and a possible upper boundary exceeding $17. The convergence of various macro wave projections and Fibonacci extensions in these zones forms the technical rationale behind these targets.
He clarified that rather than trying to pinpoint a single future price, the purpose is to identify zones where technical evidence supports potential resistance and support levels, with the $8, $11, and $17 markers shaping the overall trajectory he is monitoring.
XRP is the native token of the XRP Ledger, a blockchain designed for cross-border payments and settlements by Ripple Labs. The asset is widely followed due to its active trading and ongoing legal and regulatory developments.
