A crypto analyst’s Elliott Wave chart suggests that XRP may be on the edge of one of the most still explosive movements, but the real fireworks depend on where exactly we are in the cycle.
In a post on X, crypto analyst HovWaves says said its macro-primary expectation is still the same, adding that he was looking for a price target of $15-$20 for XRP and that the target will not change even if the current structure turns out to be a different corrective leg than initially believed.
The $15-$20 target that hasn’t changed
XRP’s price action since the start of the year hardly resembles that of an asset preparing for an explosive move into double-digit territory. Still, the lack of strong upward price momentum has not stopped many bullish proponents from maintaining extremely optimistic projections based on technical and fundamental analysis.
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One of those analysts is HovWaves, which has been consistent in its projections. In a recent post on
The basis of HovWaves prediction is that the Elliott Wave label on the XRP price chart may change, but the larger double-digit price target remains on the table. He viewed the current XRP structure as a choice between a smaller degree pullback and a deeper corrective phase, positing that the price action could be either a 4th on the immediate degree or a deeper Wave 2.
This matters because the Wave 2 and Wave 4 corrections may look the same in real time, but usually bring different benefits once the correction ends. HovWaves also added an important condition: if the market actually reaches a Wave 2, the ultimate target will likely be much higher. This is interesting because it means the bracket is from $15 to $20 could be an intermediate point if the larger impulse thesis plays out.
Biweekly Elliott Wave count points to final momentum
The chart shows an Elliott Wave count going all the way back to 2013. In it, HovWaves shows a completed five-wave impulse structure from XRP’s earliest days to the 2018 peak at $3.4, followed by a prolonged correction phase. This was an extended ABC correction that bottomed out in 2020 before a new momentum started to take shape.
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The wave structure currently in view is a five-wave advance from the 2020 low. Waves 1 and 2 appear complete, and Wave 3 culminated in the July 2025 all-time high at $3.65. According to the chart, XRP is now working through a Wave 4 consolidation with a downtrend and intermediate choppy phases before what would be the final fifth wave launch to a peak between $15 and $20.
At the time of writing, XRP is trading at $1.43 Traders expect a break above $1.50.
Featured image from Adobe Stock, chart from Tradingview.com