XRP’s Price Predictions Amid Market Uncertainty: What Analysts Expect Next

NEW YORK, USA — XRP, a prominent cryptocurrency, has become a focal point in the current bull market, marked by a significant price rally in November and ongoing developments related to legal matters. After a turbulent trading week, XRP has shown minor price gains, indicating resilience amid market fluctuations.

Analyst Egrag Crypto has expressed optimism about XRP’s potential for both short-term and long-term price growth, despite the prevailing uncertainties in the crypto market. In a March 1 analysis, Egrag employed the Elliott Wave Theory, a technical analysis tool that uses repeating wave patterns to predict future market behaviors.

Egrag highlighted that XRP has recently completed Wave 1, characterized by a remarkable 510% price surge during the fourth quarter of 2024. Currently, XRP is navigating Wave 2, which often entails a corrective pattern that could see prices drop to approximately $1.77 before experiencing a swift rebound. This price dip is expected to set the stage for a surge to between $3.70 and $3.90.

Looking forward, Wave 3 is projected to follow, typically representing the most aggressive and explosive phase of the Elliott model. Egrag predicts that Wave 3 could lead to an increase of 800% to 1,000% of the price to around $17 to $20, driven by strong bullish sentiment.

Following the anticipated Wave 3, XRP would enter Wave 4, a corrective phase that allows for healthy market adjustments before the final surge. Egrag estimates that prices could retreat to between $6 and $7 during this phase. Finally, Wave 5 will commence after the correction, representing a phase of bullish euphoria spurred by fresh investments.

The projections for Wave 5 vary; Egrag notes that it could reflect a gain of 510% compared to Wave 4’s price (suggesting a target around $44) or be equated to a historical range between $20 and $29. He also highlights a potential price target of $66 based on a more complex model involving 61.8% of the combined prices from Wave 1 and Wave 3.

As of the latest market data, XRP is trading at $2.23, reflecting a 1.74% increase over the past 24 hours. However, trading volume has notably decreased by 58.53%, now valued at $3.29 billion. Despite these fluctuations, overall sentiment surrounding XRP remains bullish, particularly with hopes that the U.S. Securities and Exchange Commission may choose to drop its appeal against Ripple, similar to recent actions concerning Coinbase.