Bulls appear to be regaining control over the market again as the XRP price gears up for a potential rally to $6. According to a crypto analyst, this forecast is rooted in the Elliott Wave Theory, which indicates that Wave 5, which is the final and usually the most explosive leg up, is getting ready to run. 

Elliott Wave 5 Signals XRP Price Explosion

In one of his latest Elliott Wave analyses, X (formerly Twitter) crypto expert Dark Defender forecasts a powerful rally for the XRP price, suggesting that the third-largest cryptocurrency could skyrocket to $6 soon. According to the analysis, XRP has been moving in a predictable wave structure since February 2025, and recent price action confirms the partial completion of the monthly Wave 5 bull pattern. 

Related Reading

The chart shows that since February, XRP has been following what Dark Defender refers to as the ”green path,” aligning with the expected trajectory of the Monthly Wave 4. This wave has recently concluded after unfolding into five smaller sub-waves, highlighting a precise and structured technical behavior. 

The fourth sub-wave peaked at around $2.36, a level previously identified as a key confirmation point. As predicted, the XRP price bounced off this level before retracing to $2.07, forming the final leg of sub-wave 5 of the monthly Wave 4. 

XRP’s current bullish setup reveals that the monthly Wave 5 is now in its early stages, with the drop to $2.07 possibly marking the bottom of the corrective structure. Dark Defender emphasizes that while Wave 5 has already begun, the larger upward move still awaits full confirmation, indicating that there may be significant room left for XRP to rally. 

Technical projections place the potential upside target of this Wave 5 near $6.85, representing a sharp bullish breakout if market momentum aligns with the expectations of the wave structure. 

Analyst Says The Real Bull Rally Is About To Begin

The XRP price is approaching a major technical breakout, as crypto analyst CW highlights the emergence of a classic bull flag pattern. After experiencing months of consolidation, the analyst suggests that the next explosive leg in XRP’s price action may be around the corner. 

Related Reading

The daily chart reveals a clear bull flag structure, formed after XRP’s powerful rally in 2024 when its price jumped from $0.5 to over $2. This aggressive and unexpected move created the flagpole, followed by a multi-month period of consolidation, forming the descending flag pattern. 

Now, XRP is testing the upper boundary of the bull flag, trading just above $2.36 at the time of the analysis. A decisive breakout and close above the resistance trendline could trigger a fresh wave of bullish momentum. According to CW, this breakout would mark the beginning of a true bull rally for XRP.

Featured image from Pixabay, chart from Tradingview.com