- Elliott Wave forecast sees XRP hitting $27 soon before surging to a $120 euphoric peak
- Institutional demand rises as CME and Coinbase debut XRP futures trading products
- Giant cup-and-handle pattern supports a bullish structure mirroring XRP’s 2017 breakout
XRP is gaining massive momentum in the cryptocurrency market, driven by bullish technical patterns and surging institutional interest. According to top analyst EGRAG CRYPTO, XRP appears to be following a familiar path one that mirrors its historic 2017 bull run. This time, however, the trajectory may be steeper and stronger, with significant price milestones ahead.
The analyst outlines a structured Elliott Wave forecast, suggesting XRP could soon break into double digits before retracing briefly, then skyrocketing to as high as $120 in a future euphoric peak.
This bold outlook is supported by the formation of a giant cup-and-handle pattern and growing global demand, which is further reinforced by new financial instruments emerging in the XRP ecosystem.
Elliott Wave Roadmap Signals $27 Before Triple-Digit Peak
EGRAG CRYPTO believes XRP is currently in the midst of an explosive Wave 3, a critical phase in the Elliott Wave structure. The third wave is often the most aggressive, and projections place XRP in the $13 to $20 range by the summer. An intermediate push to $27 seems likely, reflecting a continuation of momentum before entering a longer consolidation period.
Following this rally, Wave 4 is expected to lead into a multi-year correction, potentially pulling prices back to the $3.40 to $5.50 range. This move would resemble the extended sideways market seen after XRP’s 2017 bull cycle.
However, the fifth and final wave typically the most euphoric is forecasted to send XRP to around $120. This target aligns with long-term Fibonacci levels and reflects a delayed but more robust market climax.
CME Group Futures Launch Sparks Institutional Momentum
Significantly, market sentiment around XRP has turned increasingly positive due to institutional developments. CME Group has announced the launch of XRP futures, scheduled for May 19, pending regulatory approval. This new product will include both micro-sized 2,500 XRP contracts and larger 50,000 XRP options, opening the door to broader investor participation.
This move follows Coinbase Derivatives’ rollout of XRP futures earlier this week. The combined offerings are expected to deepen liquidity, enhance risk management tools, and drive institutional inflows.
