3 days ago
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TLDR:
- The XRP price bounced from $2.65 support, aligning with analyst forecasts for a bullish wave toward $4.
- Analysts see a 3-3-5 flat correction forming, with next upside leg potentially reaching $3.9–$4.
- Price is up from recent lows but still below $4 resistance, with key support at $2.65–$2.70.
- Macro outlook remains bullish unless XRP closes a monthly candle under the $2.00 level.
XRP is showing signs of strength after defending a key support level that analysts say could fuel the next bullish move.
Market watchers note that a well-formed Elliott Wave structure is unfolding, suggesting a fresh leg higher in the near term. This development comes after the asset endured a steady pullback in recent days.
Despite short-term price pressure, the broader setup points to an upside push that could challenge multi-month resistance levels. Traders are now watching whether momentum can carry XRP into the $3.9 to $4 range.
Elliott Wave Setup Signals Upside Potential for XRP Price
Analyst Matthew Dixon observed that XRP’s recent movement reflects a 3-wave rally in Wave W, followed by a 3-wave dip in Wave X.
In his assessment, the market now faces two possible paths: either a smaller 3-wave move up or a 5-wave impulsive advance to complete a 3-3-5 flat correction. The distinction matters because the second scenario could push XRP toward the $4 mark, while the first might cap gains slightly below that threshold.
We should see some movement higher here for #XRP following the 3 waves up in W and 3 waves down in X, so either 3 waves up for Y or else 5 waves up to complete a 335 Flat correction pic.twitter.com/SCGeWdbs1i
— Matthew Dixon – Veteran Financial Trader (@mdtrade) August 15, 2025
Chart observations from Dixon show a firm support zone between $2.65 and $2.70. Price recently tested this level and bounced, suggesting that buyers are defending it.
At press time, XRP trades around $3.12, up slightly from the latest low. Short-term resistance levels stand at $3.70, $3.90, and a major barrier at $4.00, marking the upside zones traders will monitor if bullish momentum strengthens.
The Elliott Wave perspective points to a market still in correction mode but approaching a transition toward renewed upward movement. A decisive break above $3.70 could confirm this shift and potentially accelerate gains.
However, Dixon also warned that any breakdown under $2.65 could invalidate the immediate bullish bias and open the door to deeper losses.
XRP price on CoinGeckoMacro Perspective Keeps Long-Term XRP Price Outlook Bullish
EGRAG CRYPTO offered a broader view, urging traders and investors not to overreact to minor price swings.
He stated that as long as XRP’s monthly candle remains above $2.00, the macro bullish cycle stays intact. From his perspective, the market often finishes a cycle with a bull flag pattern, setting up for a strong final push.
He also stressed the importance of maintaining a long-term plan rather than reacting to short-term volatility.
According to EGRAG, many market participants have diverse backgrounds and investment goals, yet the same principle applies: avoid panic during price fluctuations. The key is identifying structural patterns and positioning accordingly for the next major move.
#XRP – MACRO Perspective: Stay Calm 🧘♂️& Focused ⚙️!
I know many of you are new to this space, whether it's investing, trading, or navigating risks in general.
I respect each and every one of you and I have a diverse community here, from medical professionals, engineers,… pic.twitter.com/e0V4I1yMoB
— EGRAG CRYPTO (@egragcrypto) August 15, 2025
The macro chart still shows a defined bullish formation, with measured targets aligning with levels highlighted by shorter-term technical analysis. If the market continues to hold above structural supports, the next breakout attempt could bring XRP closer to retesting its previous highs.
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