XRP Enters Its 5th Elliott Wave With Targets Set at $5.85 and $10 Amid Bullish Breakout

XRP enters its 5th Wave phase, targeting $5.85 and $10 with support near $2.2222.

Wave 4 stability and breakout above the 2018 trendline confirm the next bullish Elliott cycle.

Rising open interest and oversold indicators suggest renewed momentum toward key resistance zones.

XRP has completed its Monthly 3rd Wave and entered the 5th Wave phase within a broader Elliott Wave structure. The new upward cycle projects near-term targets at $5.85 and $10, while maintaining strong technical support around $2.2222. At the time of writing, XRP was trading at $2.31.

XRP’s Elliott Wave Structure Signals Next Bullish Phase

According to an observation by Dark Defender, XRP has finalized the formation of its Monthly 3rd Wave and started a new 5th Wave. The long-term chart indicates a breakout above the descending resistance trendline established since 2018. Wave 3 reached a peak near $3.0161, followed by a corrective pullback that shaped Wave 4 around the $2.2280 Fibonacci zone.

The current structure identifies Wave 4 support near $2.2222, confirming stability before the start of Wave 5. Technical projections mark short-term resistance targets at $5.85 and $10, aligning with the 261.80 percent Fibonacci extension zone. The Ichimoku cloud pattern shows clearing resistance, supporting the ongoing breakout within a long-term bullish framework extending into 2026–2027.

XRP’s price movement between 2024 and 2025 has followed higher highs and higher lows, maintaining an ascending structure. The long-term Elliott Wave count suggests continued growth potential as price consolidates within the $2.20–$2.30 zone.

Market Data, Investor Activity, and Technical Setup

Derivatives market data show that open interest peaked near $10.74 billion earlier in 2025 before easing to $3.37 billion. This indicates sustained trader engagement even after the recent correction. According to Coinglass, XRP’s on-chain data shows mixed sentiment, with inflows returning modestly after several months of outflows.

Source: ChartNerd(X)

A recent inflow of $1.02 million reflects cautious optimism as investors re-enter near the $2.23 level. According to ChartNerd, the last time XRP retested the 55-week EMA, the price rallied over 400%

The stochastic oscillator now reads near the oversold zone, suggesting potential upward momentum if buying pressure increases. Technical analysis shows immediate resistance at $2.36, $2.43 and $2.53 while resistance holds firm at $2.16, $2.10. Sustained movement above the $2.53 level could confirm Wave 5 expansion toward $5.85 and $10, completing the long-term Elliott Wave cycle.

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