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An Elliott Wave expert and market analyst has made a bold prediction that suggests XRP could reach lofty two-digit prices this year or next.
Top crypto Youtuber Zach Rector called attention to this ambitious outlook in a post on X following his participation in an X Space titled Trench Warfare XRPL Conspiracy Knight.
For context, the price targets, which suggest XRP could rally to a range between $20 and $40, were originally put forward by XForceGlobal, a well-known South Korean certified Elliott Wave analyst who was a speaker at the X Spaces session.
The analyst had continuously championed these targets in previous analyses, possibly reiterating them in the Spaces session. For instance, in January, XForceGlobal pointed out that XRP was tracking a 5-wave Elliott Wave pattern, predicting targets of $7 to $12 and $20 to $40.
$XRP
Primary Macro AnalysisThese are the the FINAL targets for #Ripple's #XRP! It ranges from $7-12, and $20-40!
We can now finally discuss how FAR it will go, instead of discussing HOW it will go. For the past months, we have been discussing all the patterns, and now it's… pic.twitter.com/qHyZOnj3TU
— XForceGlobal (@XForceGlobal) January 16, 2025
The latest remarks further reinforce his belief in these targets. As highlighted by Rector, XForceGlobal also stressed that XRP was trading at a 5-10% premium in South Korea, citing the Kimchi Premium. This premium indicates higher demand for XRP by South Korean investors, which supports the optimistic outlook.
Optimism Amid Low Market Sentiment
This positive outlook comes at a time when XRP and the broader crypto market are battling low sentiment among market participants amid persistently dipping prices. At press time, XRP is up 2% today, improving its weekly 6.25% gain, as it trades at $2.34.
Meanwhile, those holding XRP over the last 30 days are still nursing a significant 16% loss. XRP had traded at $3 last month but dipped to $1.90 before recovering. While this price action has been concerning for holders, analysts continue to urge enthusiasts to see it as a buying opportunity.
Recently, veteran technical analyst John Bollinger, the founder of Bollinger Bands, praised XRP for holding key support levels while other crypto assets hit historic bottoms. Bollinger suggested that XRP could lead other prominent assets for the remainder of this bull run.
XRP Delivering 1,610% Gains for Holders
Now, commentators like XForceGlobal are projecting a price of up to $40 for XRP this year. Notably, reaching a $20 price would mean a 755% upside for current holders. Meanwhile, a $40 price would represent 1,610% or 17X gains for investors.
However, not all market watchers share this high optimism about where XRP is headed this year. Many believe a more attainable target would be $10 or below for this cycle.
These analysts see prices like $40 as an overestimation of XRP’s bullish potential for this cycle, viewing such a scenario as more long-term than short-term. Conservative analysts have warned that counting on wild values for XRP this season could cause investors to miss out on profits at reasonable prices.
Counter View on When XRP Can Reach $40
Notably, analysts at prediction platform Telegaon believe it would take until 2030 before XRP reaches $40. Experts at the Changelly crypto exchange also align closely with this projection. They suggested that it could take until 2032 before XRP attains $40.