Technical analysts are forecasting a potential major bullish breakout for XRP, with short-term targets of $13 within three months and a long-term cycle target reaching as high as $70. The predictions are based on Elliott Wave theory and chart patterns that draw parallels to XRP's historic 2017 bull run.
Crypto market analyst Diana provided a detailed technical breakdown, indicating that XRP has completed Wave 2, a corrective phase, and is now positioned to enter Wave 3. This phase is historically associated with significant price appreciation. The immediate projection for Wave 3 is a surge to $13. Should the rally extend further, analysts see potential price levels between $19 and $22.
The long-term, more ambitious target of $70 is tied to a potential Wave 5 extension, mirroring the pattern observed during the 2017 market cycle. Diana's analysis suggests the current market structure is following a similar path, which has generated considerable optimism within the XRP community.
From a chart perspective, XRP is forming key technical setups like triangles and rising channels. Analysts identify crucial breakout levels between $2.80 and $3.30, which could propel the price above $5 if accompanied by strong buying momentum. Maintaining support in the $2.00 to $2.30 range is viewed as critical for keeping the bullish outlook intact.
Beyond technicals, fundamental factors are also cited as supportive. XRP's growing adoption for cross-border payments and its expanding partnerships with financial institutions are seen as bolstering its long-term potential. The current market phase is described as an accumulation period, where investors are positioning themselves ahead of a potential major price surge.
