XRP traded close to $1.49 on the monthly chart as of early October, with prominent crypto analyst EGRAG CRYPTO suggesting the asset may be entering a significant new price phase. Using Elliott Wave theory, he outlined a long-term roadmap that points to the early formation of a potentially explosive Wave 3.
Elliott Wave structure mapped over a decade
EGRAG CRYPTO presented a five-wave impulse pattern that stretches back over ten years in XRP’s price history. According to his breakdown, the first wave emerged between 2014 and 2017, followed by a corrective Wave 2, then a strong Wave 3 rally peaking in early 2018. Waves 4 and 5 subsequently completed the cycle.
He now sees recent price action as an ABC correction, forming the new Wave 2 reset within another larger-scale five-wave formation. The analyst noted that XRP completed its correction around $0.96 before changing direction and climbing following a notable surge at the end of August. EGRAG CRYPTO believes XRP has begun advancing into Wave 3 of this newly developing cycle.
EGRAG CRYPTO, a well-followed market analyst, is known for in-depth technical analysis using Elliott Wave theory, a model that attempts to forecast price trends based on recurring fractal wave patterns in financial markets.
Mini dictionary: Elliott Wave theory, a technical analysis method developed by Ralph Nelson Elliott, uses the idea that prices move in repetitive cycles or “waves” driven by investor psychology. It is widely applied in crypto and traditional markets for forecasting price trends and turning points.
From an Elliott Wave perspective, this period appears “VERY interesting.” If the current ABC correction marked the end of Wave 2, the next step is typically Wave 3—the phase where significant price expansion often takes place.
Fibonacci extensions indicate bold price targets
To predict the potential scope of Wave 3, EGRAG CRYPTO provided three specific price targets using Fibonacci extension ratios. The 1.236 extension aligns with $8, the 1.414 extension suggests $15.09, and the 1.618 extension projects a possible peak at $31.19. He further explained that Wave 3 often reaches 161.8% of Wave 1’s gain. Standard corrections for Wave 2 are typically between 50% and 85.4% retracement of Wave 1, while Wave 4 corrections usually fall between 14.6% and 38.2% retracement of Wave 3’s advance.
| Fibonacci Level | Wave 3 Target |
|---|---|
| 1.236 | $8.00 |
| 1.414 | $15.09 |
| 1.618 | $31.19 |
These projected levels are visible in his analysis as key points of interest should XRP’s upward momentum continue through Wave 3.
Confirmation requires a breakout above $3.40–$3.50
The analyst emphasized that confirmation of his bullish wave count depends on XRP surpassing its previous local highs in the $3.40 to $3.50 range. Only a decisive move above this level would signal that Wave 3 is in full effect, according to EGRAG CRYPTO. Current prices remain below this area, leaving the wave structure unconfirmed for now.
Clearing the $3.40–$3.50 zone will be a major signal that Wave 3 has truly started, but this move has not yet materialized.
Long-term outlook extends beyond Wave 3
EGRAG CRYPTO underscored that even if Wave 3 achieves these bold price objectives, it will not mark the end of XRP’s multiyear cycle. He expects a Wave 4 correction to follow, before a Wave 5 expansion pushes prices to new heights. His macro roadmap outlines an extended structure that could persist well into 2028 and beyond.
He reiterated that “Wave 3 IS NOT THE END,” highlighting a broader perspective that envisions cycles extending over several more years.
