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The XRP price soared 5% in the last 24 hours to trade at $2.49 as of 3:42 a.m. EST on trading volume that skyrocketed 152% to $10.6 billion.
The surge has pushed the Ripple token to the top of the gainers list on CoinMarketCap.
XRP Price On The Verge Of Completing Wave 5 – Poised For More Gains
The XRP price chart presents a compelling case for bullish momentum building within a larger Elliott Wave structure
The Ripple token price action appears to have completed four waves in a classic five-wave Elliott pattern, with the current move suggesting the onset of Wave (5).
Meanwhile, the previous impulsive legs, marked as Waves (1), (3), and potentially now (5) have followed a structurally sound pattern, with corrections forming higher lows, especially at Wave (4), which found strong support near the $2.05 zone, according to GeckoTerminal data.
This zone aligns with both the ascending trendline and a historical support level, indicating buyers stepped in decisively.
The price of XRP is now positioned above both the 50-day and 200-day Simple Moving Averages (SMAs).
Furthermore, the Relative Strength Index (RSI) currently sits at 63.78, which is below the overbought threshold of 70 but sloped upward. This indicates increasing bullish momentum without yet entering overheated territory.
The Moving Average Convergence Divergence (MACD) shows a recent bullish crossover, with the MACD line (blue) crossing above the signal line (orange) and both lines trending upward. The histogram is also positive, reinforcing a bullish outlook.
Ripple Token Price Hints At A 10% Surge
With the bullish breakout above the descending wedge, strong support at the $2.00 region, and a clear Elliott Wave count suggesting the final impulsive Wave (5) is underway, the XRP price appears primed for a further upward move.
The immediate target based on the height of the previous consolidation and breakout range projects a Ripple token price target of approximately $2.72, representing a potential 10.5% gain from current levels.
If bullish momentum sustains and the broader crypto market remains supportive, the price of XRP could even challenge the $3.00 level, a key psychological and resistance barrier from previous cycles.
Conversely, if the bears take control of the XRP price at this level, the Ripple token could drop back to the $2.05 level, which acts as a cushion against downward pressure.
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