XRP Elliott Wave Call: Next Bull Impulse After $1.10–$1.30
Crypto analyst Austin says XRP may be approaching a larger bullish “impulse,” using a monthly Elliott Wave chart. In the projection, XRP completes a base phase (wave 0), then rallies into wave I, followed by a corrective wave II that retraces toward a key support zone around $1.10–$1.30.
The setup implies XRP is nearing the end of the correction and could transition into wave III (typically the strongest leg), with a potential breakout target above $10. After a brief wave IV consolidation, the chart’s final leg (wave V) suggests a higher projection near $27. Austin also highlights a horizontal level that previously acted as support/resistance as a critical area to hold during the corrective phase.
A commenter (Emma) echoes a cautious stance: wait for confirmation rather than assuming an immediate breakout. Overall, the article frames the “next impulse will be televised” as a conditional technical scenario—XRP’s continuation depends on maintaining support and finishing the current retracement.
Bullish
The news is a bullish technical projection for XRP: it argues the corrective phase is nearing completion and sets up a larger impulse (wave III) that could push XRP above $10, with an even higher wave V target near $27. For traders, this matters mainly as a roadmap of levels—$1.10–$1.30 as the near-term support “must-hold” zone, and the horizontal prior support/resistance as a confirmation area.
However, it is not a guaranteed breakout call. Because the chart still shows XRP in a correction (wave II/ending), the market response likely depends on follow-through: acceptance above resistance for confirmation, or loss of the $1.10–$1.30 area that could invalidate the wave count and delay the rally. In similar past Elliott Wave/level-based setups across crypto, prices often consolidate near the stated support/resistance first, then either break and accelerate (if structure holds) or mean-revert (if support fails). Short-term, traders may position around the support band and watch for breakout signals; long-term, the narrative supports a continuation thesis if the impulse unfolds as projected.