Why XRP Could Target $5-$8: Analyst’s Elliott Wave Theory Explained

• XRP token shot up a massive 3.48% in the past day with a 50% surge in volume. 
• Trump’s April 2 “reciprocal tariffs” could be more targeted than initially feared. 
• A breakout for XRP above the $2.61 price level could trigger a breakout rally for the altcoin.

XRP has jumped 3.48% in the past 24 hours to $2.46, accompanied by a strong 48.84% surge in trading volume, CoinMarketCap data shows. 

Driving this rally is a wave of optimism across the crypto market, sparked by easing worries over US President Donald Trump’s planned “reciprocal tariffs” from April 2nd, and the SEC’s move in the Ripple Labs case. Reports suggest the tariffs could be less severe than expected, and the SEC’s decision adds regulatory clarity.

Optimism Surrounding Reciprocal Tariffs

Bloomberg reported potential exemptions for some countries and that existing tariffs on steel and other metals might not be cumulative. This news has eased investor concerns, improving overall market sentiment.

Previously, Trump’s aggressive trade policies often unsettled financial markets, causing downturns in both equities and cryptocurrencies. In February, Bitcoin (BTC) notably dropped 17.6%, falling below $80,000 as traders reacted to economic uncertainty. 

Adding to the positive sentiment, the Federal Reserve recently adjusted its inflation forecast upward while downgrading economic growth projections. Separately, the SEC decided to drop its appeal against Ripple Labs, offering relief and regulatory clarity after years of legal battles.

XRP Price Targets

Crypto analyst Dark Defender has offered a bold prediction for XRP, suggesting the asset could hit $77.7 this market cycle. His forecast uses Exponential Fibonacci levels, a method he believes analysts often overlook.

Dark Defender’s analysis leverages Elliott Wave theory, which identifies price movements in structured waves. His outlook anticipates a five-wave impulse, with Wave 3 expected to be the most explosive, pushing XRP into the $5 to $8 range.

Related: SEC Clarifies Proof-of-Work Crypto Mining Isn’t a Security, Offering Industry Relief

Following Wave 3, a brief correction in Wave 4 will occur before another major upward move. Wave 5 will then be the final push, driving XRP to new highs between $18 and $23, with a potential extension to $77.7. If XRP follows this pattern, it could significantly outperform its previous peaks.

What Does XRP’s Current Price Analysis Show?

The Relative Strength Index (RSI) currently hovers near 52, in the neutral to bullish zone. A move above 60 would signal increasing bullish momentum, potentially indicating the start of Wave 3.

Related: Top Analyst’s Confident Take: ADA and XRP at $10? ‘Fine With Me’

Furthermore, XRP’s price is near the middle Bollinger Band, suggesting consolidation. A breakout above the upper band at roughly $2.61 could trigger the next leg higher, confirming Dark Defender’s wave projection.