XForceGlobal says XRP’s multi-year triangle breakout and $1.40–$1.50 support could lead to $6–$10 targets based on Elliott Wave analysis.
XRP is drawing renewed attention after Korean Elliott Wave analyst XForceGlobal shared a bullish technical outlook.
The analyst stated that XRP has completed key milestones and may be preparing for a new upward wave.
The focus remains on a multi-year triangle breakout that could set the stage for higher price targets.
XRP Completes Key Milestones After Full Retracement
XForceGlobal reported that XRP recently revisited its previous all-time high levels. After reaching those levels, the price completed a full retracement.
According to the analyst, this move confirms the end of a major corrective phase.
He stated that the retracement aligns with Elliott Wave principles. The structure suggests that XRP has reset its cycle. “It’s all coming together for $XRP,” he wrote on social media.
The analyst added that completing both the retest and retracement is a rare development.
These steps are often seen before a new impulsive wave begins. Market participants are now watching for confirmation of the next upward move.
Analyst Points to $1.40–$1.50 Support Before $5 Move
XForceGlobal shared a “before and after” chart analysis on social media. He stated that XRP is “almost there” and suggested many traders are unprepared.
The analyst expects the $1.40 to $1.50 range to hold with high conviction.
He projected that this support zone could act as a base before XRP reaches $5 or higher.
According to the analyst, holding this range would confirm the current structure. He added that distribution behavior helped refine the outlook.
The analyst explained that simple distribution patterns shifted his view from an impulse wave to a flat structure.
This adjustment narrowed the expected path. He maintained that the broader setup remains constructive for higher levels.
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$6–$10 Targets Based on Elliott Wave Structure
Based on his wave count, XForceGlobal outlined potential price targets between $6 and $10 or higher.
These targets are tied to projected impulse waves in the current cycle. The analyst linked these projections to historical XRP price expansions.
He explained that prior XRP cycles showed strong percentage gains after extended consolidation.
The current structure resembles those earlier setups. “The next wave could extend toward the $6–$10 range,” he stated.
At the time of reporting, XRP continues to trade within a consolidation range. Traders are monitoring volume levels and support zones for confirmation. The broader crypto market trend may also influence XRP price direction.
The XRP multi-year triangle breakout remains central to the bullish thesis. Analysts continue to assess technical signals and wave patterns.
Market participants await further price confirmation to validate the projected targets.
Source: https://www.livebitcoinnews.com/xrps-multi-year-triangle-breakout-signals-6-10-target/
