XRP has currently entered what Korean Certified Elliott Wave Analyst XForceGlobal describes as a “washout” phase within a broader Elliott Wave corrective structure. This phase could potentially set the stage for a renewed macro advance, with future cycle targets estimated to reach between $20 and $30.
In a video released on February 3, XForceGlobal emphasized that the recent price pullback does not alter his larger analytical framework; instead, it drives XRP deeper into what he terms the “alternative” macro scenario. This scenario reflects an expanded flat correction, where an initial upward push to new highs is followed by a “fake out” before a final leg down aimed at flushing out late buyers.
He explained, “Nothing new here, we’ve been discussing this for some time, focusing on two extreme points of interest.” These include a B Wave creating a fake out at the all-time high and the current C Wave that has fabricated another fake out below the previous low structure.
XForceGlobal believes XRP might need one final downturn before prices potentially rally to $30. His analysis suggests a critical target for Wave C is derived from the pivot points of the previous Waves A and B, particularly referencing the 1.618 Fibonacci extension. He reframes this level not as a mystical threshold but as a behavioral cue where corrections become emotionally driven. In his perspective, Wave A signifies an initial counter-trend move, Wave B the “overconfidence phase,” and Wave C represents the forced exit for those caught at the top.
“This phase acts as a trap, known as a liquidation structure,” he noted. “Wave A marks the first counter-trend move in the larger cycle, followed by the B Wave’s overconfidence, and finally the C Wave serves as a reality check, leading to exits at local bottoms due to stop losses and waning confidence in XRP’s overall structure.”
XForceGlobal articulated that Wave C is typically propelled by emotion, diverging from balanced trading, and usually resolves as a five-wave decline rather than a three-wave correction, often concluding around the 161.8% extension as selling pressure dissipates. He highlighted that the market’s reversal occurs not because prices have reached “cheap” levels, but rather when sellers lose strength and bullish divergences begin to emerge.
From a technical perspective, he described a volatile situation where bulls and bears vie for dominance, identifying a price range between approximately $1.50 and $1.08-$1.09. XForceGlobal indicated that this zone could transform into a potential buy area, but only if the five-wave decline completes, followed by a reversal sequence that confirms a turnaround.
Macro conditions remain important to his outlook. He pointed out XRP’s recent breakout from a multi-year triangle coupled with a substantial 500% rally as compelling evidence supporting a five-wave advance, succeeded by corrective phases aligning with the expanded flat setup: a gradual pullback, a striking B-wave push, and ultimately a downturn below previous market structures.
He concluded that if XRP completes this corrective leg and shifts into what he anticipates as a new impulsive cycle, characterized by the classic succession of wave three, wave four, and wave five, it could open pathways toward significantly higher targets over time. XForceGlobal envisions that these steps could propel prices toward the anticipated $20 to $25, or possibly even $30 in the future. He also highlighted the $6 mark as a critical level for profit-taking and strategic reassessment, part of a broader risk management strategy rather than a simple price prediction.
As of the latest updates, XRP is trading at approximately $1.5887, reflecting the ongoing fluctuations and market dynamics that analysts and investors are vigilantly observing.