XRP Elliott Wave Pattern Could Send XRP to $24–$110 as It Mirrors 2017 Fractal

XRP could be on the verge of a major rally, according to analyst EGRAG who juxtaposed the Elliott Wave structure with XRP’s 2017 fractal.

His latest analysis comes as XRP continues to battle the bears at the critical $2 level, suggesting that the asset is actually following a broader five-wave Elliott Wave structure, which typically ends with major price movements.

EGRAG’s assessment indicates that XRP is in the second wave of this structure, a phase that often features volatility and corrections before an explosive third wave emerges.

In his report, EGRAG observed that a cup pattern has formed within an arc, aligning with expectations. He called this the “just do it” structure due to its similarity to the Nike swoosh. Based on this formation, EGRAG expects a breakout that could push XRP toward $13 in the near term.

XRP Currently in Corrective Wave 2

However, the real focus is on the larger Elliott Wave structure, which he believes could send the asset into double-digit and even triple-digit territory.

The analyst explained that Wave 2 typically retraces a portion of Wave 1, with common levels including 50%, 61.8%, 76.4%, or even 85.4% of the initial move. He suggests that XRP is currently confirming its position in this corrective phase.

According to him, as XRP faces bearish pressure in the current Wave 2, a potential double bottom could form before the asset transitions into Wave 3. This upcoming phase is expected to be the most aggressive in the cycle.

Potential Two to Three-Digit Target

For context, Wave 1 previously saw an impressive 733% increase in XRP’s price. Applying the standard Elliott Wave extension rule, EGRAG projects that Wave 3 could extend by 1.618 times the first wave’s gain. This calculation leads to an estimated 1,185% surge, which, if realized, could push XRP’s price to about $22–$24.

(3/7) pic.twitter.com/JZdi5m66dg

— EGRAG CRYPTO (@egragcrypto) March 12, 2025

Once Wave 3 reaches its peak, a corrective Wave 4 will follow. Typical retracement levels for this phase range between 14.6%, 23.6%, and 38.2% of Wave 3. Using the most aggressive estimate of a 38.2% retracement, the price could dip massively, possibly falling back to around $8.

This decline would represent a 65% drop from the projected Wave 3 peak and would perfectly align with common correction patterns observed in previous market cycles.

Further, EGRAG suggested that Wave 5, the final phase of the Elliott Wave structure, can be estimated using three methods. First, if the price extends between 1.236% and 1.618% of Wave 4’s length, XRP could reach between $32 and $48.

(4/7) pic.twitter.com/7bKb0F1ki5

— EGRAG CRYPTO (@egragcrypto) March 12, 2025

Alternatively, if Wave 5 mirrors Wave 1 in magnitude, the price could range between $60 and $70. Lastly, if it follows a 61.8% extension of the combined movements of Waves 1 and 3, the price could climb as high as $100, a highly speculative target.

Elliott Wave Aligns with XRP 2017 Fractal

Speaking further, EGRAG compared this current Elliott Wave structure to XRP’s price behavior in 2017, when the asset experienced a massive rally. He highlighted similarities between the current market cycle and the one observed during that historic bull run.

Accordingly, if March 2020 marked the start of a new macro cycle, then the alignment between his wave count and the 2017 fractal seems rather close. Notably, he observed that the first wave in the current cycle mirrors the one in the 2017 rally, while Wave 2 in 2017 had a deeper retracement than what the market is seeing now.

(6/7) pic.twitter.com/kA5U5ms0WG

— EGRAG CRYPTO (@egragcrypto) March 12, 2025

He estimated that Wave 3 should reach between $22 and $24, aligning with the fractal, which previously topped out between $17 and $20. A fourth-wave correction would likely bring the price down to around $8, though the 2017 market saw an even steeper decline.

In the worst-case scenario, EGRAG acknowledges that Wave 4 could drop as low as $3.40, though he maintains that an $8 bottom is the more likely outcome. Following the 2017 fractal, the final fifth wave presents three price targets in this cycle: $32 to $48, $60 to $70, and $95 to $110. Meanwhile, XRP currently trades for $2.23, up 3.5% in the past 24 hours.

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