- XRP resembles 2017’s bullish setup, with Wave 3 Elliott targets at $13.13, $18.22, $36.76, and a final projection near $117.
- Fibonacci and Ichimoku indicators show bullish momentum; surpassing $3.66 could lead to $5.86 and $18.23.
- Analyst warns XRP could overshoot to $22, citing previous underperformance and exponential growth potential in current cycle.
XRP may be approaching a breakout phase, with new projections suggesting a climb toward $117 if current structures hold. Analyst Dark Defender noted that June and July showed strong market activity and believes August could deliver an even more explosive move.
The forecast builds on XRP current wave structure and past behavior, particularly referencing a similar setup seen in 2017. The recent price action shows a possible repeat of that bullish formation, marked by a temporary consolidation followed by a powerful upward extension.
Current Pattern Aligns with Historical Setup
The 2017 rally saw XRP consolidate inside a descending flag following a sharp move upward, which preceded another surge. Notably, this same structure appears again in 2025, according to current chart patterns. The price recently hit a high of $3.66, and now trades around $3.29.
Key Fibonacci extensions show three major targets: $1.88 at 161.8%, $5.86 at 261.8%, and $18.23 at 361.8%. According to the analyst, surpassing $3.66 could open the way toward the $5.86 target and higher.
The Ichimoku Cloud indicator also shows strengthening sentiment, as price action breaks above previous resistance zones labeled as “Hell.” These zones have now transitioned to bullish “Moon” levels.
Measured Moves Suggest Even Higher Targets
According to a separate analysis by Egrag Crypto, a closer look at XRP’s structure using logarithmic moves may no longer be sufficient. He argues that exponential patterns are more accurate, given the current growth behavior of crypto assets.
Back in March 2023, a falling wedge pattern for XRP underperformed its measured target by 111%. This underperformance now raises questions about potential overshoots in current projections.
The same measured move now points to $11, but the analyst warns that a repeat of the previous shortfall could push XRP up to $22. This observation supports the broader view that XRP could deliver larger than expected returns if the same growth conditions persist.
Wave Structure Puts $117 in Focus
The current chart suggests XRP is now in Wave 3 of its Elliott Wave cycle. The analyst identifies three key Wave 3 targets: $13.13, $18.22, and $36.76. If those levels are surpassed, the final extension projects a top near $117.
This structure remains consistent with past exponential expansions in XRP’s price. With market sentiment heating up, technical indicators now support the possibility of a steep upward continuation. However, a drop below the Ichimoku cloud could retest the $1.88 level.
