XRP (XRP) is flashing a bullish reversal setup that resembles the consolidation structure from early 2025, a pattern that preceded a 70% price explosion.
XRP Eyes 27% Rise in August
Currently trading near $2.99, the Ripple-associated token is consolidating within a falling wedge pattern, marked by a series of lower and lower highs. This classic reversal structure often signals the end of a correction and the start of a new upside phase.
The last time XRP showed a similar consolidation structure—a bull flag in late 2024—the price broke out after a retest of its 50-day exponential moving average (50-day EMA; the red wave), rallying from around $2 to above $3.60 within weeks.
Notably, the current wedge setup is also forming atop the 50-day EMA, which has emerged as a key accumulation zone once again.
Adding to the bullish case is the relative strength index (RSI), which stabilizes near the neutral 50 level, which has historically been a launch point during trend reversals.
Should the wedge breakout occur, the technical target sits near $3.80 below the previous local top of $3.66. That implies a potential 27% upside from current levels.
XRP must breach the wedge’s upper trendline with strong volume confirmation to validate the move.
Conversely, a close below the 50-day EMA at $2.79 may delay or invalidate the bullish scenario, potentially triggering a drop toward the $2.35–2.40 support range.
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See all Ripple forecastsElliott Wave Outlook: $6–$8 XRP Target in Sight
Elliott Wave analysis from trader @nology3000 adds further conviction to the bullish outlook.
According to their 12-hour XRP/USD chart, XRP has completed a corrective (A)-(B)-(C) wave structure, likely marking the end of Wave (2) within a larger impulsive five-wave cycle.
If validated, XRP may enter Wave (3), typically the strongest and most extended in Elliott Wave theory, with projected upside targets between $6 and $8. This aligns with historical Fibonacci extension levels and coincides with XRP’s multi-year breakout zone.
The structure implies a short-term rally above $3.80 to confirm Wave (3)’s start, followed by consolidation around the $5.50–$6.00 range before aiming higher toward the $7.80–$8.20 area.
