TLDR:
- XRP Wave 4 correction ends at $1.40, setting the stage for a bullish Wave 5 move around $7.29.
- EMA Ribbon historically marks consolidation points before XRP price increases, indicative target levels.
- XRP price may reach $8 to $27, reflecting patterns from 2017 and 2021 market cycles.
- Technical analysis shows that Wave 4 is misleading traders, but the next bullish phase may follow historical trends.
XRP is displayed renewed technical signs after a period of market uncertainty. Traders are closely watching the cryptocurrency’s EMA Ribbon for early bullish signals. New Elliott Wave analysis suggests that Wave 4 has completed, potentially creating a Wave 5 surge.
Price targets vary widely based on historical cycles, attracting attention from investors. Analysts emphasize measured movements and past patterns to assess future price potential.
XRP Price Targets Driven by Wave 4 Completion
Crypto analyst EGRAG CRYPTO emphasized that XRP is likely in Wave 4, after a correction phase that resumed part of Wave 3.
Wave 4 ended at $1.40, establishing a base for the next move up. Calculating the 1.618 extension of Wave 3 suggests a potential Wave 5 target near $7.29.
Historical data shows that Wave 4 corrections often mislead traders into selling prematurely. Previous bull markets for Bitcoin show similar behavior, with Wave 4 consolidation preceding stronger Wave 5 increases.
Analysts emphasize that Wave 4 usually does not result in a complete market reversal but acts as a pause before a bullish continuation. The current approach is in line with these historical trends.
Using the Wave 1 and Wave 3 data, the projected range suggests that XRP could reach the $7-$8 range in the near term.
Macro trends indicate that a larger bullish pattern may develop, reflecting a super-macro bullish trend similar to previous cycles. Traders are advised to monitor price action around key support levels and EMA Ribbon touch points.
EMA Ribbon Signals for XRP price movement
The EMA Ribbon on the monthly chart has historically acted as a consolidation zone before price increases.
Analysts compared patterns from 2017 and 2021, noting consistent declines in the band before major upward moves. Currently, XRP has only slightly touched this zone despite the recent market volatility.
Measured movements from previous cycles suggest multiple price targets. The 2021 cycle points to $8, while the final leg of 2017 means a potential top of $27. Averaging these, analysts suggest $20 as a reasonable medium-term target.
Technical followers emphasize that strength varies, but the EMA Ribbon continues to guide strategic entry points.
EGRAG CRYPTO reminded the XRP community to stay steady and focus on technical levels. Support from historical EMA Ribbon trends reinforces confidence in potential bullish moves. Investors are advised to observe market reaction carefully before adjusting the positions.
