XRP Price Targets $4 Surge as Bullish Wave Pattern Unfolds

TLDR:

• XRP breaks out past $2.90, with Elliott Wave analysis projecting upside targets up to $3.93.
• Analysts say XRP is in Wave 3 or 4, following an impulsive cycle toward higher Fibonacci levels.
• Overbought RSI above 80 raises short-term caution as traders eye potential retracement levels.
• Pennant breakout confirmed by volume surge, fueling speculation of XRP revisiting all-time highs.

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XRP is surging through a critical breakout phase, catching attention across the crypto market. Analysts suggest the token may be progressing through a bullish Elliott Wave cycle, hinting at a possible run toward new highs. 

Current price action indicates strong momentum as traders track technical patterns and Fibonacci targets. With the token recently crossing $2.90, XRP is showing signs of renewed strength after weeks of sideways movement. 

However, caution remains as overbought signals may trigger a brief cooldown before the next move.

XRP Elliott Wave Cycle Points to Continued Uptrend

Veteran trader Matthew Dixon noted that XRP appears to be moving through an impulsive Elliott Wave sequence. 

According to his analysis, the asset is either in Wave 3 or entering Wave 4. The projected Fibonacci targets based on the Wave 1-2 structure include $3.25 at the 2.618 extension, with higher zones at $3.67 and $3.93.

Impulsive wave count (Wave 1 → 5) in progress, with #XRP currently in Wave 3 or beginning Wave 4.
Key Fibonacci extension targets from the Wave 1-2 base:
2.618: $3.2487
3.618: $3.6714
4.236: $3.9327

Wave 1 topped around $2.56.
Wave 2 bottomed at roughly $2.00.
XRP is likely in… pic.twitter.com/1iiCJ7ce7x

— Matthew Dixon – Veteran Financial Trader (@mdtrade) July 14, 2025

Wave 1 reportedly peaked around $2.56, while Wave 2 bottomed close to $2.00. The recent breakout past the 1.618 Fibonacci extension at $2.83 marks an essential confirmation of bullish momentum. Dixon mentioned a possible short-term retracement to $2.70 if Wave 4 develops before the expected push into Wave 5.

Despite the positive structure, technical signals hint at temporary resistance. The relative strength index (RSI) has risen above 80, suggesting XRP may be overbought. 

In such scenarios, the market often pulls back slightly or moves sideways before resuming the primary trend.

Dixon noted the risk of bearish divergence if volume fails to support rising prices. A sudden drop back toward the $2.60 or even $2.40 range could emerge if buyers lose steam. Traders are closely watching volume indicators to validate the current push higher.

Pennant Breakout Adds to Momentum

Crypto chartist CRYPTOWZRD also commented on XRP’s recent movement. 

⚠️ GOING TO HEAVEN 😇

Bring on the breakout..

🚨 WARNING: The Pennant Pattern is trying to breakout and $XRP is gearing up for a new all time high.. 8 years later its playing out the exact same 🚀

Keep doubting, you’ll be left behind 😘 https://t.co/gc8PmjMQ3z pic.twitter.com/UfQAMVsaa2

— CRYPTOWZRD (@cryptoWZRD_) July 14, 2025

He described the setup as a breakout from a long-term pennant pattern, with historical parallels dating back eight years. His view aligns with a growing sentiment that XRP could attempt to revisit or even surpass its all-time high.

Currently, XRP is trading around $2.92 with over $10.7 billion in 24-hour volume, according to CoinGecko. This marks a 2.28% gain on the day and a 27.45% rise over the past week.

If bullish momentum continues, XRP could reach Dixon’s upper projection near $3.93 as Wave 5 completes the cycle. The market now eyes price behavior near the $3.25 mark to assess whether a minor correction sets in or if XRP skips directly into the final wave.