Elliott Waves chart the way for XRP: A breakout at $3.33, with a target of $5.9 just a matter of time?

The price of XRP is currently hovering around the 2.8 USD mark after a slight fluctuation in the previous day's session. Market analysts are closely following the important resistance level at 3.3 USD – a price level that is believed to potentially open up stronger growth prospects in the medium and long term, if the technical structure is maintained.

XRP moves sideways after a correction

At the time of the article, XRP has been relatively flat over the past 24 hours, trading steadily around 2.8 USD. In a larger timeframe, this token has decreased by approximately 5.1% over the past week and 4% over the past month.

However, experts believe that this adjustment phase is merely a consolidation period and not a sign of weakness or collapse.

The famous analyst Dark Defender has released the report "The Masterpiece 11", which emphasizes that XRP is still adhering to the long term technical structure and may be preparing for an important breakthrough.

According to him, the level of 3.3 USD is a decisive threshold for the next stage of the price cycle.

Based on Elliott wave theory, Dark Defender believes that XRP has completed a correction cycle at the beginning of 2025. Currently, the token is still in Wave 2 – the horizontal accumulation phase – but may soon transition to Wave 3, which is often regarded as the strongest upward movement in the entire cycle.

If this scenario occurs, XRP may target 5.9 USD before expanding to double-digit levels in the long term.

Fibonacci Extension: Important Technical Levels

Dark Defender has applied the Fibonacci extension tool to reinforce its forecast on XRP's price prospects. This is a technical analysis method based on mathematical ratios, often used by traders to identify potential resistance and support zones.

According to the analysis, the expansion level of 161.8% around the threshold of 1.9 USD has been conquered in early 2025, marking an important milestone in the recovery journey of XRP. Subsequently, the area of 270.2% at 3.35 USD emerges as a notable crossover point, coinciding with the breakout threshold that the market is currently testing.

If XRP maintains its growth momentum and surpasses this area, the next target will be at 261.8%, corresponding to 5.9 USD. This is considered an important mid-term milestone, which may open up a stronger upward trend. Furthermore, the 361.8% extension sets potential resistance at around 18.2 USD, reflecting long-term prospects if the bullish structure is sustained.

Analysts emphasize that the price history of XRP often follows a familiar pattern: an extended accumulation phase before exploding with strong acceleration surges. The current technical structure is showing similar characteristics, increasing expectations that XRP may enter a new growth cycle.

Macroeconomic context and supporting factors

In addition to technical signals, many catalysts from the macro context can play an important role in strengthening the growth outlook for XRP in the coming months.

First of all, the most notable factor is the ability to launch an XRP ETF. According to reports, the U.S. Securities and Exchange Commission (SEC) has received and is reviewing over 90 applications related to this product. If a spot ETF is approved, the liquidity and accessibility of XRP will be significantly expanded, thereby attracting more institutional capital and enhancing the position of XRP in the traditional financial market.

Alongside that, the recent approval of derivative ETFs based on XRP also shows growing interest from investors. In particular, the emergence of leveraged futures ETF products not only opens up a more diverse range of options for traders but also reflects the increasing confidence in XRP as a potential asset.

Finally, we cannot overlook the spillover effect from Bitcoin. In the current cycle, Bitcoin is forecasted to fluctuate within the range of 135,000 – 195,000 USD. Market history shows that whenever Bitcoin enters a phase of strong growth, large-cap altcoins like XRP often benefit from the spillover of capital, creating significant price increase opportunities.

Prospects for the Coming Months

In the short term, experts believe that a solid candle close above the 3.3 USD mark will be an important signal, opening up the possibility of retesting the recent peak area at 3.7 USD. If this level is surpassed, XRP could enter a new price discovery phase, where the market has not clearly identified resistance.

In the medium term, forecasts for 2025 center around the level of 5.9 USD, consistent with Fibonacci and Elliott wave theory. Further out, the long-term Elliott wave structure even suggests the potential for XRP to reach 10 USD or higher, if the upward trend is maintained.

However, these optimistic scenarios are not entirely certain and still depend on many important variables. Factors such as legal developments related to Ripple, changes in regulatory policies, and global macroeconomic conditions, along with market demand and new capital flows, can all significantly impact the price trajectory.

At the current time, the focus remains on the 3.3 USD area – the key resistance level that is seen as a determining factor for whether XRP has enough strength to establish a new price foundation, thus defining the direction for the remainder of the cycle.

Justin