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$XRP could be entering the final stage of its current bullish cycle, according to crypto analyst Mr. Xoom.
Using Elliott Wave Theory, he suggests that $XRP is no longer in Wave 3, as some traders believe. In his view, $XRP has already transitioned into Wave 5, the final leg of the five-wave pattern.
Wave 3 Was the Major Breakout
In his analysis, Mr. Xoom emphasized that Wave 3 is typically the strongest and longest rally in the cycle. He noted that $XRP had already surged from around $0.50 to $3.39 during this wave, marking an impressive 575% gain.
From this point, the bulls stepped in, and $XRP has rebounded massively since then. According to Mr. Xoom’s chart, $XRP ended Wave 4 at that $1.60 bottom, commencing Wave 5.
In Elliott Wave Theory, Wave 5 often delivers notable gains. Indeed, since touching a bottom in April, the $XRP price has reached its highest point yet.
Specifically, $XRP climbed to $3.66 in mid-July, a price level last seen nearly eight years ago. This marked a rebound of around 129% from the April low. Although $XRP has cooled off slightly, Mr. Xoom suggests the road to much higher prices remains intact.
Final Push Could See $XRP Hit $7–$10
Mr. Xoom projects that the final rally could drive $XRP to between $7 and $10. With $XRP trading at $3.31 at press time, this promising outlook suggests a potential upside of 111% to 202% from current levels.
The analyst noted that while the rally may not match Wave 3’s intensity, it could still mark a significant peak for this market cycle. For context, a $7 price would put $XRP’s market cap at $415 billion — near the valuations of Netflix and Mastercard.
Meanwhile, a $10 price for $XRP would imply a market cap of nearly $600 billion, rivaling Visa’s valuation.
Supporting Analysis
Other market watchers have similarly used Elliott Wave Theory to project peak prices for $XRP beyond $10.
In April, XForceGlobal, Korea’s first certified Elliott Wave analyst, predicted that $XRP was primed for a major breakout to $10 or higher. He cited a completed WXY corrective pattern and a setup for a larger bullish cycle.
Meanwhile, in June, using Elliott Wave analysis and Fibonacci extensions, analyst EGRAG forecast a Wave 5 target between $9 and $10, with a possible stretch to $27 if momentum is sustained.