The current price of Ripple has recently been hovering between $2 and $3, with low volatility and minimal trading activity. This consolidation reflects a cautious market state, where participants are waiting for a clear breakout to signal the next directional trend.
Based on Fibonacci levels and Elliott Wave Theory, despite a decline in altcoin prices over the past week, the long-term outlook for this altcoin remains optimistic. This is because XRP's price has been dropping along with other parts of the cryptocurrency market over the past seven days.
Fibonacci and Elliott Wave analysis of XRP
The Fibonacci 1.618 level suggests that May 5, 2025, could be a key date for XRP's long-term price trajectory. This is based on the automatic Fibonacci time zones and trend-based Fibonacci used on the weekly XRP price chart.
This timeline aligns very well with the general sentiment around XRP, as many cryptocurrency participants currently anticipate a surge in the first half of 2025. It remains uncertain whether the $15 spike will occur before or after this predicted date.
Speaking of price timelines, the $15 target is based on actual calculations and Elliott Wave Theory. XRP is currently in Wave 4, which is the second corrective phase in Elliott Wave Theory. Once this phase is completed, Wave 5 is expected to be the next significant move. Wave 5 is traditionally known as the third impulse wave that pushes asset prices to new highs.
To estimate the magnitude of Wave 5, analysts examined the performance of previous impulse waves 1 and 3. Notably, Wave 1 and Wave 3 prices increased by 63.39% and 570%, respectively.
Using this data, Egrag Crypto applied a common Elliott Wave Theory, which indicates that Wave 5 is typically equal to 61.8% of the total gains of Wave 1 and Wave 3. By applying this reasoning and inputting the numbers, Wave 5 is expected to lead to a price increase of approximately 391% for XRP. In terms of price targets, this corresponds to a price range of around $15.
What is the next step for XRP?
In recent weeks, after Tether became the third-largest token by market cap, XRP's gains have significantly shrunk. This has led bulls to have more optimistic expectations for XRP, as they set their sights on historical highs. Although bulls have focused on upward movement in institutional activity, recent headwinds have lowered market expectations.
With the global cryptocurrency adoption rate soaring, institutional traders are drawn to XRP due to its cross-border payment potential. Additionally, Ripple has made significant progress in promoting XRP and global prepayments.
This year, Ripple launched RLUSD and established partnerships with several exchanges to enter the stablecoin space. The company also announced a collaboration to launch a premier tokenized currency fund on the XRP ledger.
In addition to global partnerships, XRP is also expected to surge due to the rise of other top assets. Bitcoin recently broke through $100,000, and the upward trend since the U.S. elections has triggered a rally in altcoins. Altcoins are set for a significant increase, citing previous cycles.
Is XRP's long-term bullish trajectory still valid?
The price of Ripple has recently been hovering between $2 and $3, with low volatility and minimal trading activity. This consolidation reflects a cautious market state, where participants are waiting for a clear breakout to signal the next directional trend.
Currently, the cryptocurrency stabilizes around the $2 support area, which is historically significant due to previous volatility highs and concentrated demand. It acts as a key barrier preventing further downward movement and keeps Ripple within a consolidation range.
Further enhancing the bullish outlook is the RSI indicator, which has stabilized around 50, indicating a balance between buyers and sellers. This positioning lays the groundwork for bullish momentum, potentially breaking through the $3 resistance level. If this materializes, Ripple could enter a mid-term upward trend.