XRP Price Prediction: Elliott Wave Structure Targets $22.5 in Wave 5

XRP shows strong Elliott Wave patterns suggesting a potential rally to $22.5 in Wave 5, with current consolidation around $3.50 setting up for a major breakout.

XRP has been capturing significant attention from technical analysts as it displays a textbook Elliott Wave formation that could signal the start of a substantial price surge. With the cryptocurrency recently completing what appears to be a corrective Wave 4, market watchers are now focused on the potential for Wave 5 to deliver extraordinary gains that could reshape XRP’s price landscape.

XRP Price Consolidates Before Potential Wave 5 Rally

XRP has been following a clear Elliott Wave pattern and just finished Wave 4 after a natural pullback. This setup hints that Wave 5 could be starting soon, which might push XRP’s price all the way up to $22.5.

Crypto analyst @Steph_iscrypto is bullish on this scenario, suggesting that only “future XRP millionaires” will have the patience to ride out this massive move. His analysis shows XRP building strength around the $3.50 level, which could be the launchpad for the next big rally.

For this bullish scenario to play out, XRP needs to hold its key support between $2.70 and $3.00. This area has been acting like a trampoline for price bounces, and keeping it intact is crucial for the Elliott Wave pattern to stay valid.

The main resistance levels to watch are $5.00, $7.50, and $14.50 before XRP potentially reaches that $22.5 target. Breaking through these levels could create serious buying pressure as FOMO kicks in, pushing the rally even higher.

XRP Market Outlook and Investor Sentiment

While Elliott Wave predictions aren’t set in stone, this technical setup matches XRP’s overall positive story. As Ripple keeps growing its presence in cross-border payments and banking solutions, more institutions are likely to get on board.

Market sentiment is increasingly positive, with many believing that clearer regulations and real-world use cases will drive XRP’s next big run. When you combine this with the technical Elliott Wave outlook, the case for continued bullish momentum looks pretty strong.