XRP trades in a tight range between $2 and $2.35, but the next price breakout could be driven by ETF speculators.

XRP news update: Traders predict consolidation to $2.35 amid ETF speculation

XRP is starting to draw attention again as signs of a potential breakout begin 
to take shape. With market sentiment gradually shifting and XRP holding key 
support levels, analysts suggest that the stage may be set for the next 
impulse wave. If momentum continues to build and critical resistances are 
cleared, XRP could be on the verge of an explosive price rally to $8.5. 
Elliott Wave Points To Major XRP Price Breakout Paul Webborn, a crypto analyst 
on X (formerly Twitter), has released a new XRP forecast update, reinforcing 
his bullish stance on the third-largest cryptocurrency. In his analysis, the 
market expert reveals that XRP may be entering a powerful impulse phase, with 
projected targets potentially reaching or even surpassing $8 in the current 
cycle. Related Reading: Analyst Says XRP Is Moving According To Plan, Here’s 
Why $1.90 Is Important Webborn’s analysis applies Elliott Wave Theory to track 
XRP’s price movements from its June 2022 low, identifying that point as the 
start of a new bullish cycle. The chart provides a visual roadmap of XRP’s 
next moves based on the impulse wave structure. The cryptocurrency is expected 
to experience a short-term rise to initial targets below $8, followed by a 
brief pullback before a final rally that could push XRP to new all-time highs. 
Notably, the chart shows that primary Waves A and B have already played out, 
and XRP is now progressing through Wave C, which is unfolding in five 
intermediate waves. Intermediate waves 1 through 4 appear complete, with Wave 
5 still forming. Webborn notes that this final fifth wave is expected to break 
down into five smaller minor waves. Minor wave 3 is projected to push XRP 
toward the $5 and $6 range, while the full extension of Wave C could carry it 
to between $8 and $10. The analyst has set an invalidation level at $1.90, 
meaning any move below that would break the current bullish structure and 
possibly lead to further downward pressure on the XRP price. Webborn predicts 
that if the $1.90 level is broken, XRP could potentially experience a crash 
toward new lows around $0.287, marking more than an 87% decline from its 
present market price. However, the chart suggests that this low has already 
been reached, further reinforcing the bullish narrative that the altcoin may 
be on the verge of a major upward breakout. While Webborn has provided no 
specific timeline for his optimistic forecast, the analyst believes that the 
coming few months could be explosive as the market enters the next phase of 
the impulse. Update On Price Action Lately, the XRP price has maintained 
strong support above $2, showing strength despite an extended consolidation 
period. CoinMarketCap data shows that the cryptocurrency is currently trading 
at $2.22, reflecting a modest 1.35% rise over the past day. Related Reading: 
Analyst Puts XRP Cycle High At $20-$30, Here’s Why Although XRP is still 
priced significantly below its all-time high, data from CoinCodex shows that 
market sentiment remains highly bullish. The cryptocurrency’s Fear and Greed 
Index also currently sits at 64, firmly in the ‘Greed’ zone. Featured image 
from Getty Images, chart from Tradingview.com

XRP Roadmap To $8.5: Why The Next Impulse Could Start Soon

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