XRP’s Path to $8.5: The Next Bullish Surge Could Be Just Around the Corner

XRP is gearing up for a potential breakout—again. After years of regulatory whiplash and wild speculation, the embattled crypto might finally be ready for its next big move.

Here's why traders are eyeing that $8.5 target.

The Setup: A Market Primed for Volatility

With the SEC drama (mostly) in the rearview, XRP's chart looks suspiciously like it's coiling for a run. Technicals suggest an impulse wave could kick off any day—because nothing says 'healthy market' like a 500% moonshot, right?

The Catalysts: Beyond Just Hype

Ripple's ODL corridors are actually seeing real usage now. Add in the usual suspects—ETF rumors, exchange relistings, and that one obscure wallet moving 50M tokens—and you've got a classic crypto powder keg.

The Punchline: Trust the Process (Or Don't)

Will this finally be XRP's year? Who knows. But if history's any guide, the ride to $8.5—if it happens—will be equal parts thrilling and utterly ridiculous. Just ask the 'HODLers' who've been waiting since 2018.

Elliott Wave Points To Major XRP Price Breakout

Paul Webborn, a crypto analyst on X (formerly Twitter), has released a new XRP forecast update, reinforcing his bullish stance on the third-largest cryptocurrency. In his analysis, the market expert reveals that XRP may be entering a powerful impulse phase, with projected targets potentially reaching or even surpassing $8 in the current cycle. 

Webborn’s analysis applies Elliott Wave Theory to track XRP’s price movements from its June 2022 low, identifying that point as the start of a new bullish cycle. The chart provides a visual roadmap of XRP’s next moves based on the impulse wave structure. 

The cryptocurrency is expected to experience a short-term rise to initial targets below $8, followed by a brief pullback before a final rally that could push XRP to new all-time highs. Notably, the chart shows that primary Waves A and B have already played out, and XRP is now progressing through Wave C, which is unfolding in five intermediate waves. 

Intermediate waves 1 through 4 appear complete, with Wave 5 still forming. Webborn notes that this final fifth wave is expected to break down into five smaller minor waves. Minor wave 3 is projected to push XRP toward the $5 and $6 range, while the full extension of Wave C could carry it to between $8 and $10.

The analyst has set an invalidation level at $1.90, meaning any move below that WOULD break the current bullish structure and possibly lead to further downward pressure on the XRP price. Webborn predicts that if the $1.90 level is broken, XRP could potentially experience a crash toward new lows around $0.287, marking more than an 87% decline from its present market price. 

However, the chart suggests that this low has already been reached, further reinforcing the bullish narrative that the altcoin may be on the verge of a major upward breakout. While Webborn has provided no specific timeline for his optimistic forecast, the analyst believes that the coming few months could be explosive as the market enters the next phase of the impulse. 

Update On Price Action

Lately, the xrp price has maintained strong support above $2, showing strength despite an extended consolidation period. CoinMarketCap data shows that the cryptocurrency is currently trading at $2.22, reflecting a modest 1.35% rise over the past day. 

Although XRP is still priced significantly below its all-time high, data from CoinCodex shows that market sentiment remains highly bullish. The cryptocurrency’s Fear and Greed Index also currently sits at 64, firmly in the ‘Greed’ zone.