XRP Could Hit $6 as Wave 2 Correction Nears Completion

Crypto market analysts forecast that XRP may soon surge to $6, as the Wave 2 correction phase, based on Elliott Wave theory, approaches its end—paving the way for a bullish trend. This momentum is supported by strong technical indicators and growing optimism over a potential Ripple ETF approval.

Currently, XRP is trading around $2.08, fluctuating between key support and resistance levels. According to Casitrades, XRP has shown solid support around the $1.90 and $1.55 levels in recent weeks. If the price holds above these zones, a reversal and strong upward move could follow.

A critical resistance level lies at $2.24, which corresponds to the 0.382 Fibonacci retracement. Breaking and maintaining above this level could trigger a strong rally toward price targets of $6, $9.50, and even $12—aligning with the 1.618 Fibonacci extension.

Technical indicators also support a bullish outlook. The MACD has given a buy signal, with the MACD line crossing above the signal line and the histogram turning green, indicating increasing buying pressure. The RSI remains in the mid-range, suggesting there’s still room for growth if buying momentum continues.

Additionally, analyst EGRAG CRYPTO notes that if XRP closes a full weekly candle above $2.25, it would confirm a bullish reversal, opening the way to short-term targets at $2.51 and $2.60.

However, short-term volatility remains a concern. Over 55 million XRP have recently been transferred to exchanges, which could create temporary selling pressure. Despite this, the longer-term outlook remains optimistic due to technical support and the growing anticipation of a Ripple ETF.