TLDR
- XRP’s Wave 3 marked a 575% rally, reaching $3.39 before entering Wave 4.
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Analyst predicts XRP price could hit $7 to $10, with a market cap surpassing $400 billion.
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XRP’s recent surge from $1.60 to $3.66 could signal a strong Wave 5 push ahead.
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Elliott Wave theory supports XRP’s price potential, with a possible range of $7–$10.
XRP price could be gearing up for its final bullish push, according to crypto analyst Mr. Xoom. Using Elliott Wave Theory, Mr. Xoom suggests that XRP is no longer in Wave 3 but has already entered Wave 5, which is the final phase of a five-wave cycle. This analysis signals a potential price surge for XRP, with projections ranging from $7 to $10.
Wave 3: The Major Bullish Phase for XRP Price
Wave 3 is typically considered the most powerful and longest stage of an Elliott Wave cycle. In this phase, XRP saw a massive price increase from around $0.50 to $3.39, reflecting a 575% gain. This rally started in November when XRP was trading at approximately $0.49 and continued until January when the price reached $3. This marked the peak of Wave 3, which was followed by a corrective phase.
Following the rapid gains in Wave 3, XRP entered Wave 4, characterized by price correction and consolidation. During this phase, XRP saw a decline, dropping from $3 to $1.60 by April. This corrective phase helped to consolidate gains and prepare the market for the next bullish leg.
Despite the downward movement, XRP showed resilience, rebounding strongly from the April low of $1.60. The strong recovery suggests that XRP could now be entering the final phase of its current cycle.
Wave 5: XRP’s Final Bullish Surge
According to Mr. Xoom’s analysis, Wave 5 began when XRP rebounded from the $1.60 bottom in April. This wave could lead to a significant price increase. The price of XRP recently surged to $3.66 in mid-July, marking the highest level the coin has seen in almost eight years.
This represents a 129% recovery from the April low. Even though XRP has cooled off slightly from this peak, analysts believe that the rally could continue, with prices reaching between $7 and $10.
XRP Price Targets and Market Cap Predictions
If XRP reaches the projected price of $7, its market cap could rise to approximately $415 billion, which is close to the valuations of major companies like Netflix and Mastercard.
A $10 price for XRP would imply a market cap of nearly $600 billion, putting it on par with Visa. This potential surge makes XRP a major focus for investors looking for high returns.
Other analysts have similarly predicted a bullish future for XRP. In April, XForceGlobal, a well-known Elliott Wave analyst from Korea, projected that XRP could surge to $10 or even higher. Similarly, in June, EGRAG, another analyst, suggested that XRP’s Wave 5 target could reach between $9 and $10, with a possibility of extending to $27 if the momentum persists.
