XRP Primed for Meteoric Surge: Wave 3 Targets $36 Breakout
XRP bulls are loading up as technical patterns signal a potential moonshot—Wave 3 momentum could catapult prices to $36.
The Setup:
Classic Elliott Wave theory points to an explosive third-wave rally. Traders are watching for a decisive breakout, though skeptics whisper about 'crypto astrology' between sips of overpriced artisanal coffee.
Why It Matters:
A clean break past key resistance would confirm the pattern, turning XRP into the market's latest rocket fuel—just as Wall Street 'experts' finally finish their 2021 Bitcoin post-mortems.
XRP price action signaled a trend reversal, marking the end of its cooling phase. The altcoin broke out of a triangle consolidation pattern during the last month.
It can be experiencing Wave 3 of an Elliott Wave structure. Analysts noted similarities between the current setup and the 2017 bull market.
XRP Price Follows 2017 Pattern as Wave 3 Sets Stage for Rally to $36
In a recent post on X, analysts compared xrp price structure to its 2017 breakout pattern.
Back then, XRP entered a sideways cooling phase after an increase. That formed a downward-sloping flag before initiating a parabolic rise.
The present setup showed an identical structure on the monthly timeframe. There was a bullish flag that has now broken to the upside.
More so, the chart displayed Wave 3 as the next major phase in XRP price Elliott Wave sequence.
The previous impulse leg concluded with a consolidation phase marked by reduced volatility and contracting price action.
This consolidation has now ended, according to the recent candle close above trend resistance. It signals the potential start of a larger upward move.
Fibonacci Targets Indicate Key Zones at $13, $18, and $36
XRP price breakout followed Fibonacci extension levels as technical markers of future resistance points.
Break out of the area NEAR $1.88 led the altcoin to the 161.8% extension, resulting in a local peak at a price of around $3.66.
The next projected levels at the 261.8% and 361.8% extensions corresponded to approximately $5.86 and $18.22, respectively.
A further extension placed a potential target near $36.76, forming part of the Wave 3 projection. This value is drawn using the 561.8% extension from the base of the impulse leg.
Analysts warned that even when these levels are historically anchored, the dynamics in the market and the overall mood might affect the reality of the trend.
The trend was, however, still consistent with the fractal pattern in the 2017 cycle.
Technical Indicators Confirm Momentum Shift
The Ichimoku Cloud now supports a bullish stance. On the monthly timeframe, XRP price has closed above the cloud, marking a change to the resistance-dominated zone.
This change indicated that the long-term trend that began declining in 2018 is perhaps now finally over.
The analysis of trading volume also indicated constant growth during the breakout, thus justifying market participation.
All in all, the top altcoin price ROSE by more than half since the beginning of last month, when it was about $2.09.
At the time of writing, XRP price stood at $3.22, with a market cap of $190.5 Billion and a 24-hour volume of $4.25 Billion.
Ripple Weekly Chart Points to $12
Market analyst shared another XRP price chart where a bullish breakout scenario was supported. The asset regained an important area at about $1.95, which is referred to as “Macro GO-GO Level.”
This reclaim was followed XRP price MOVE out of a long falling wedge that had formed over the years 2021 to early 2023.
XRP price weekly chart shared by market analyst supported the breakout scenario. The asset reclaimed a key level around $1.95, labeled the “Macro GO-GO Level.”
This reclaim occurred after XRP price exited a prolonged falling wedge formation, which had developed between 2021 and early 2023.
A close above the $3.30 resistance zone, corresponding to the 1.272 Fibonacci extension, could open the path to higher Fibonacci targets at $4.43, $7.05, and $12.15.
The new support is set in the range between $0.47 and $0.58. It had formerly served as a floor during large-scale pullbacks.
An XRP price break above $3.30 may shift sentiment and volume towards a more fractal Wave 3 path.
This action will take Ripple price one step closer to the $36 targets indicated in the monthly fractal pattern.
