XRP (Ripple), Wave 2 Correction Nearing End...Analyst "If Wave 3 Starts, It Will Explode by 2,000%"

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An analysis suggests that XRP is approaching the end of its Wave 2 correction, and if Wave 3 begins, it could rise to $43.83.

The Crypto Basic reported on August 6 (local time) that while XRP has fallen by about 43% since the start of 2026, signs of weakening selling pressure have been detected. Market analyst EGRAG CRYPTO analyzed that XRP is in the final stages of completing its Wave 2 correction according to Elliott Wave theory.

On the 3-day chart, while the price formed a lower low than the previous low, the Relative Strength Index (RSI) formed a higher low. This indicates a bullish divergence, where price and indicator move in opposite directions. EGRAG CRYPTO explained that as the rate of decline slows, selling pressure is also weakening.

The primary support zone to watch if the downtrend continues is between $0.95 and $1.00. The next support level is $0.75, and in case of further correction, the $0.52 to $0.60 range was presented as a key defense line. To confirm an upward reversal, XRP needs to recover the $1.30 to $1.60 range and then surpass $1.96. Breaking through the $3.00 to $3.60 resistance zone and the previous Wave 1 high is also necessary.

Based on XRP's approximately 1,200% surge in the preceding Wave 1, EGRAG CRYPTO suggested a Wave 3 surge of 1,900% to 2,000%. The target prices are $6.42, $13.37, $22.55, $29.63, and $43.83, in order. This path represents an approximately 20-fold increase from the expected low to the final target price.

However, bullish divergence is only an early signal indicating a potential rebound and does not confirm the start of Wave 3. The Wave 3 bullish scenario will only be confirmed when XRP breaks out of its corrective structure and successively breaks through key resistance zones.

[Article Summary]

-An analysis suggests that XRP is approaching the end of its Wave 2 correction according to Elliott Wave theory.

-While bullish divergence has been detected, major resistance levels remain from $1.30 to $3.60.

-The Wave 3 surge is projected to be between 1,900% and 2,000%, with a final target price of $43.83.

*Disclaimer: This article is for informational purposes only and does not constitute investment advice. No responsibility is taken for investment losses based on this information. The content should be interpreted solely for informational purposes.*