XRP Elliott Wave Pattern Has Now Entered Its Fifth Iteration: Here Are Short-Term Targets

XRP has entered the fifth and final stage of a multi-wave Elliott Wave pattern that started in late June, currently pointing to several short-term price targets. 

Specifically, the pattern places the first target at $1.23062, while a stronger rally could push the price as high as $1.40.

At the time of writing, XRP is trading at $1.09810, up 0.05% on the day. Meanwhile, the 14-period Relative Strength Index (RSI) stands at 47.98, showing neutral momentum and suggesting the market still has room to move either higher or lower.

This Elliott Wave structure has formed on the 4-hour timeframe since XRP reached a low of $1.012 on June 26. Since then, the market has completed the first four waves of the pattern and has now moved into the middle of the fifth and final wave.

XRP Elliott Waves One to Three

The current pattern began on June 26, when XRP dropped to $1.012 before quickly rebounding higher. The first wave lifted the price from that low to $1.07 by June 27.

Then, the second wave unfolded as an ABC correction across June 29 and June 30. During this phase, sub-wave A pulled XRP from $1.07 down to $1.03 by June 29. 

Sub-wave B followed with a rebound to $1.076 later that same day. Finally, sub-wave C completed the correction by pushing the price back to $1.02 on June 30, marking the end of the larger wave two.

From here, wave three started at the $1.02 low and produced the strongest rally in the entire sequence. Specifically, XRP climbed to $1.18 by July 4, gaining $0.16, or about 15.7%, from the bottom of the wave to its peak.

This $1.18 level remains the highest point reached during the current Elliott Wave structure and now acts as the level that the fifth wave needs to move above to reach its projected targets.

Wave Four Leads to an XRP Correction

After reaching $1.18, XRP entered wave four, which represented the most detailed correction in the entire pattern. This phase completed both a standard ABC correction and an internal five-sub-wave structure at the same time.

Within the ABC pattern, sub-wave A pulled the price from $1.18 down to $1.12. Sub-wave B then lifted XRP back to $1.16, while sub-wave C finished the correction by bringing the price down to $1.06 on July 13.

At the same time, the internal five-wave structure within wave four also ended at $1.06 on July 13, with the fifth internal sub-wave marking the end of the correction. 

Short-Term XRP Price Targets

Wave five began from the $1.06 low and now forms in five sub-waves. The first sub-wave lifted XRP from $1.06 to $1.13 by July 15 before the market entered the current second sub-wave correction. The pullback has taken the price back to around $1.09 at press time, a decline of about $0.04 from the $1.13 high.

The $1.09 area has now become an important support zone because it closely matches the horizontal reference level at $1.09957. 

As long as XRP holds above this area, the current fifth-wave structure remains valid. However, if the price falls below the wave four low of $1.06, the bullish Elliott Wave count would no longer apply, and a more bearish outlook would become the leading scenario.

If the correction around $1.09 ends as expected, the next move could take XRP to $1.17 during sub-wave three. That could be followed by a pullback to $1.14 in sub-wave four before the final fifth sub-wave targets the 1.0 Fibonacci extension at $1.23062.

If buying momentum continues after that, the next upside target sits at the 1.618 Fibonacci extension of $1.33924. Under the strongest bullish scenario, the current fifth-wave structure could extend to $1.40. 

While the bullish Elliott Wave count remains the main outlook, the same price action also supports a valid bearish interpretation without breaking any of Elliott Wave theory’s main rules. Under that view, the current structure could still lead to another move lower instead of continuing higher.