Recently, analyst STEPH IS CRYPTO made a bold declaration that XRP is entering its final, fifth wave of growth, which could lead to significant market changes not just for token holders, but for the entire cryptocurrency sphere.
Elliott Wave Structure and the Importance of the Fifth Wave
According to STEPH, XRP is in the fifth and final wave of a five-wave bullish cycle, similar to the one observed in 2017. Based on Elliott Wave Theory, this fifth wave usually signifies the last surge before a major correction begins. Analysts predict that such a structure could push XRP to prices between $3.80 and $4.50.
XRP Market Dynamics and Bullish Momentum
At the time of the report, XRP is trading around $3.17, recovering from a recent dip to $3.05. This increase followed a strong rally when the token reached a multi-year high of $3.66 on July 18. Trading volume surged to over $7 billion, indicating renewed interest in the token. The $3.00 level serves as a critical support zone, and analysts note that as long as XRP stays above this threshold, the fifth wave scenario remains valid.
Fundamental Factors and Institutional Expectations
In addition to technical aspects, XRP's bullish momentum is being supported by strong fundamental factors. Ripple is nearing a resolution of its legal case with the SEC, which is also contributing to increased interest. Institutional analysts like Standard Chartered project XRP to reach $5.50 in this cycle, while some traders suggest a potential rise to $6 or more, depending on broader market conditions.
The analyst emphasizes that time is of the essence. In the next one to two months, the market may witness the final stage of XRP's growth. However, traders are advised to exercise caution, as forecasts are merely projections and do not guarantee end results.
