XRP price is worth $1.25 after a difficult October, but one analyst believes the current weakness could be setting up a much larger move toward $2-$3. XForceGlobal says XRP has finally reache
XRP price is worth $1.25 after a difficult October, but one analyst believes the current weakness could be setting up a much larger move toward $2-$3.
XForceGlobal says XRP has finally reached the area he had been waiting for and is now preparing for a potential Elliott Wave 3 advance.
The timing is interesting. XRP is down about 4.3% over the past week and nearly 16% over the past month, leaving sentiment considerably weaker than it was earlier this year. The token is currently moving between roughly $1.24 and $1.26.
That weakness is exactly what makes the analyst’s chart notable.
XForceGlobal’s daily chart places XRP inside a Fibonacci retracement area between the 61.8% and 78.6% levels.
The zone appears to stretch from approximately $1.10 to $1.22, with XRP now trading only slightly above it.
His interpretation is that the decline from the September rally may be completing a corrective Wave 2.
If that count holds, the next phase would be Wave 3, usually considered the strongest impulsive leg in an Elliott Wave structure.
The chart initially points toward approximately $1.40-$1.45 as XRP begins recovering, but that is not the main target.
Source: X/@XForceGlobal
XForceGlobal expects the larger Wave 3 structure to eventually push XRP toward the $2-$3 region.
From the current $1.25 price, reaching $2 would mean roughly 60% upside. A move to $3 would represent a gain of about 140%.
The analyst is not saying the bottom has definitely been reached.
His chart leaves room for XRP to move deeper into the Fibonacci support area first, potentially toward $1.15-$1.20, before turning higher.
There is also a much more important invalidation area around $0.98-$1.00.
A decisive move below that zone would seriously weaken the bullish Elliott Wave interpretation shown on the chart.
This matters because XRP’s broader trend is still under pressure. Current technical readings remain weak on the daily, weekly and monthly timeframes after XRP lost about 15.6% over the past month.
Read also: XRP Advocate Says Ripple Made a Huge Mistake With Its Escrow
The bullish setup is therefore not based on XRP already showing strong momentum.
It is based on the idea that the current decline is corrective rather than the beginning of a new long-term bearish leg.
If buyers defend the $1.10-$1.22 region and XRP begins reclaiming $1.40-$1.50, the Wave 3 scenario becomes much more convincing.
From there, XForceGlobal’s $2-$3 targets would move into focus.
For now, XRP remains near $1.25 and has not confirmed that reversal.
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The post XRP Price Could Be About to Surprise Traders With This Move! appeared first on CaptainAltcoin.
