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XRP is preparing for overvoltage at $ 120, according to popular Crypto Egrag Crypto. Holding on the social media platform X, the analyst Shared a fresh graphic Costail a bullish perspective for XRP, suggesting that cryptocurrency retraces a path similar to its 2017 explosive rally. This time, however, the trajectory could be even more dramatic, because the graph accompanying its post describes a long term Elliott waves training It first points to $ 27 and finally at an amazing price of $ 120.
Echoes of 2017: the XRP retracted cycle which made the price of all high time
The 2017 bull cycle is one of the most emblematic periods in the history of XRP. It was during this phase that the price of XRP joined less than $ 0.01 to a summit of $ 3.84, pulled by a wider crypto market, exchange announcements and speculation surrounding the adoption of Ripple among financial institutions.
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The rally followed a classic Elliott wave pulse structure, with five distinct waves characterized by short consolidations before each major step up. In early 2018, the bubble had broken out and XRP, like the rest of the cryptography market, entered an extended bear phase.
The post of Egrag Crypto implies that XRP is now Follow a similar model To the one in 2017. Particularly, the analyst noted that xrp is currently in the process of forming its second wave, which is a retracement of the bulllish impulse wave 1. This impulse wave 1 is characterized by xrp’s surge to $ 3.4 Between Q4 2024 and January 2025. Wave 2, hand, is characterized by the Price correction since JanuaryWho returned the XRP price to exchange approximately $ 2.
Now the next step is that wave 3 begins training. Based on the traditional reports of Elliott waves, this wave tends to extend aggressively, often measuring 161.8% of wave 1. According to Egrag, the price of XRP should end the wave 3 Above the two figures During the summer of 2025. It was at this stage that the analyst predicted a $ 27 high, almost ten times his current negotiation price. After that, his prospects provide a long correction of the wave 4 which lasts several years, preparing the field for a final extension of the wave 5 which could see XRP getting into triple figures.
The long -term objective of $ 120
In its projection, the level of $ 27 will mark the completion of wave 3, followed by a correction of wave 4 which could potentially extend over three years. This correction would be brutal and would result in the XRP price reach a background around $ 5.50.
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After this consolidation phase, the formation of the wave 5 which results from it will catapult XRP again to new peaks and will take place on the same measured movement as the 1 or 61.8% wave of the 1 + wave of the wave 3. If this takes place as the wait Egrag, XRP would break in three -digit territory and finally weighs around $ 120.
At the time of writing this document, XRP is negotiated at $ 2.19, up 2% in the last 24 hours. Reaching price targets of $ 27 and $ 120 would result in increases of 1,132% and 5,380%, respectively, of the current price.
Adobe Stock star image, tradingView.com graphic
