XRP has rebounded from a low of $2.92, reclaiming the key $3 psychological level and now trading at $3.01, signaling renewed bullish momentum.
According to market analyst DavidTheBuilder, XRP may be entering the corrective or consolidating Wave 4 of the Elliott Wave cycle.
He pointed out, “I’ve been tracking XRP’s wave structure closely, and based on multiple analysts’ charts, it looks like we’re deep in Wave 4 consolidation right now. The key? Holding above that $3.07–$3.03 zone. If we manage that, the setup for Wave 5 looks explosive.”
Wave 4 marks a temporary pullback or sideways consolidation following a strong Wave 3 rally. Unlike the sharp decline of Wave 2, Wave 4 is typically shallow and more complex, setting the stage for the final surge in Wave 5.
In the current setup, Wave 3 ignited a bullish surge that propelled XRP to a new all-time high (ATH) of $3.65, a scenario not seen in more than seven years.
Therefore, Wave 4 consolidation is a crucial cooldown after the impulsive Wave 3 rally, signaling market hesitation while laying the groundwork for the decisive Wave 5 move.
If Wave 5 sees the light of day, a top analyst predicts XRP surge to $6 amid soaring wallet growth and explosive social buzz.
Furthermore, XRP bulls are eyeing the $5 breakout, thanks to Ripple unveiling landmark strategic reserve plans.
