XRP is trading around $1.06, but analyst EGRAG CRYPTO sees the token approaching a critical juncture. According to his Elliott Wave analysis, the altcoin may be finishing Wave 2 correction, which could unlock a far more aggressive phase known as Wave 3, historically the most powerful leg of any Elliott Wave cycle.

The setup hinges on a bullish divergence between price and the RSI indicator. XRP keeps printing lower lows, yet the Relative Strength Index is carving higher lows, a classic signal that selling pressure is weakening despite continued downside on the chart. It's not a guarantee, but technical traders have seen this pattern precede major reversals.

The Make-or-Break Zone

Everything comes down to the $1.30 to $1.60 band. If XRP closes decisively above this range, buyers regain control and the bullish case strengthens considerably. Beyond that, the token would need to reclaim $1.96, then push into the $3.00 to $3.60 region. A clean break above the Wave 1 peak would confirm Wave 3 has officially started.

If momentum stalls, EGRAG identifies three support zones worth watching. Initial support sits between $1.00 and $0.95, followed by $0.75. A deeper pullback toward $0.60 to $0.52 would mark the final major floor before the long-term bullish thesis takes serious damage.

The Upside Math

Here's where it gets interesting. Wave 1 delivered roughly a 1,200% advance. Elliott Wave theory suggests Wave 3 often matches or exceeds Wave 1 in magnitude, which is why some analysts are floating a 2,000% projection if the breakout confirms. That math puts XRP in the multi-dollar range, a move that would require sustained capital inflows and a fundamental shift in market sentiment.

The token remains highly dependent on Bitcoin's direction and broader crypto risk appetite. Confirmation requires XRP to hold above resistance and close firmly in that $1.30 to $1.60 zone. Until then, it's still a watch, not a trade setup.

This analysis is for informational purposes only and not investment advice. Crypto markets carry significant risk. Do your own research before making any trading decisions.