A chart by crypto analyst Elliott Wave shows that XRP may be active on the eve of one of its best Explosive moves yet, but the real pyrotechnics depend on what period we are in.
In a post on X, crypto analyst HovWaves said his initial macro expectation is still the same, adding that he was looking for a price target of $15-20 for XRP and that the destination will not change, even if the current structure is another corrective leg that was assumed from the beginning.
$15-$20 target unchanged
XRP’s price action since the start of the year has looked nothing like an asset preparing for an explosive move into double-digit territory. However, the lack of a high rate of price growth prevents many bulls from maintaining extremely optimistic forecasts based on technical and fundamental analysis.
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One such analyst is HovWaves, who has been consistent in his predictions. In a recent post on X, an analyst wrote: “Initial macro expectations for XRP remain flat. Looking for a macro target of 15-20.”
The basis of the HovWaves forecast is that the Elliott Wave symbol on the XRP price chart may change, but is larger. double digit price target remains at the table. He looked at the current structure of XRP as a choice between a smaller level reversal and a deeper phase of correction, stating that the price action could be in the immediate level or a deeper wave 2.
This is important because Wave 2 and Wave 4 corrections may look similar in real time, but they usually have different directions after the correction is over. HovWaves also added a key condition: if the market actually broke wave 2, then the final target would likely be higher. This is interesting because it means that the bracket is between 15 and 20 dollars can be a waypoint if plays a larger momentum thesis.
Calculating two-week Elliott wave points to final momentum
The chart contains an Elliott Wave countdown that stretches back to 2013. In it, HovWaves shows a five-wave momentum structure from XRP’s early days to its 2018 peak at $3.4, followed by a long correction phase. It was an extensive ABC overhaul that ended in 2020 before new momentum could emerge.
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The wave structure currently in focus is a five-wave advance from the 2020 low. Waves 1 and 2 appear complete, and Wave 3 reached $3.65 in July 2025. According to the chart, XRP is now working through the consolidation of Wave 4 with a downtrend and intermediate phases before the start of the final fifth wave to the peak of $15 to $20.
At the time of writing, XRP is trading at $1.43 and traders waiting for a break at the top $1.50.
Featured image from Adobe Stock, chart from Tradingview.com
