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XRP is preparing for a Golf up to $ 120, according to the popular crypto analyst Egrag Crypto. To Social Media Platform X, the analyst shared a new graph A bullish prospect for XRP detail, which suggests that the cryptocurrency is restoring a path that is comparable to the explosive rally of 2017. This time the process can be even more dramatic, because the graph at his post outlines a long -term Elliott Wave Formation That first points to $ 27 and finally on a stunning price tag of $ 120.
Ultrasounds of 2017: XRP-Retracing Cycle that has taken the price high forever
The Bull Cycle 2017 is one of the most iconic periods in the history of XRP. It was during this phase that the price of XRP came from less than $ 0.01 to a record high of $ 3.84, powered by a broader crypto-market bubble, exchange lists and speculation on the acceptance of Ripple under financial institutions.
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The rally followed a classic Elliott golf pulse structure, with five different waves characterized by short consolidations before every large leg up. At the beginning of 2018, the bubble was surfaced and XRP entered a long -term bear phase, just like the rest of the cryptomarket.
Egrag Cryptos Post means that XRP is now Follow a similar pattern The analyst in particular noticed that in 2017 that XRP is currently forming his second wave, which is a Retracement of the Bullish Impuls Golf 1. This impulse golf 1 is characterized by the rise from XRP to $ 3.4 between Q4 2024 and January 2025. Wave 2, in the other side, is the other side. Price correction since JanuaryWho sent the XRP price back to the trade around $ 2.
Now is the next step for Wave 3 to start the formation. Based on traditional Elliott wave ratios, this wave tends to expand aggressively, often with a measurement of 161.8% of Golf 1. According to Egrag, the price of XRP is expected to end 3 3 3 Above double digits Sometime in the summer of 2025. It is at this point that the analyst predicted a top for about $ 27, almost ten times his current trading prize. After this, his prospects anticipate a long Wave 4 correction that lasts a few years, so that the stage was set for a final Wave 5 extension that could see XRP break into triple figures.
The target of $ 120
In his projection, the level of $ 27 marks the completion of Golf 3, followed by a Wave 4 correction that may be overstrained for three years. This correction would be brutal and ensure that the XRP price is Reach a bottom around $ 5.50.
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After this consolidation phase, the subsequent WAVE 5 formation XRP will again catapult to new highlights and go on the same measured movement as Golf 1 or 61.8% of Wave 1 + Wave 3. If this plays as Egrag expected, XRP would break into a three-part digit area and eventually peak around $ 120.
At the time of writing, XRP acts at $ 2.19, an increase of 2% in the last 24 hours. Achieving the price goals of $ 27 and $ 120 would translate into 1,132% and 5,380% from the current price respectively.
Featured image of Adobe Stock, Chart van TradingView.com