Recent on-chain data suggests that XRP is in a phase of accumulation, while technical analysis from crypto analyst EGRAG CRYPTO presents a macro-level Elliott Wave framework that could influence XRP's price trajectory through 2026 and into 2027. The source notes that this accumulation phase may lead to significant price movements in the near future.
EGRAG CRYPTO's Analysis on XRP
EGRAG CRYPTO's analysis is anchored on the monthly 50 EMA, which XRP is currently using as a support level. The analyst notes that in the previous market cycle, XRP's price dipped to the 100 EMA on the monthly chart before making a recovery. However, this time, such a significant drop is deemed unlikely, with the 50 EMA identified as the primary accumulation zone. Any potential wick down to the 100 EMA, currently around the $0.96 price level, would be considered a rare entry opportunity, occurring once in a market cycle.
Transitioning to Wave 3 Expansion Phase
The analyst posits that XRP is transitioning from a Wave 2 correction into a Wave 3 expansion phase. Wave 1 marked XRP's initial breakout to new all-time highs in 2025, while Wave 2 represents the current correction phase. Wave 3, often regarded as the most robust segment of a trend in Elliott Wave analysis, is anticipated to commence soon. EGRAG's projections for Wave 3 targets utilize the 1.618 Fibonacci extension of Wave 1, suggesting a potential price range between $15 and $31 if the anticipated price action unfolds as expected.
Coinbase recently announced the upcoming launch of a Trade at Settlement feature for XRP futures, aimed at attracting institutional investors and enhancing liquidity. This development contrasts with the current accumulation phase of XRP discussed in recent analyses. For more details, see more.
