XRP targets $8 as Wave 5 unfolds, ETF inflows hit $19 million

XRP is displaying a potential bullish continuation pattern as it develops within the fifth wave of a broader macro trend. Various technical indicators, higher market participation, and robust institutional demand are supporting the recovery outlook for the token. However, analysts say further gains rely on sustained upward momentum and favorable market conditions in the overall crypto sector.

Technical Analysis Indicates Bullish Structure

Currently, XRP is priced at $1.41, with a 24-hour trading volume of $1.64 billion and a market capitalization of $88.47 billion. Over the past day, the price has remained stable without notable fluctuations.

Crypto analyst EGRAG CRYPTO has identified a potential advance for XRP based on a macro Elliott Wave analysis. According to this setup, the initial major target zone lies between $6.19 and $8.07, where resistance could emerge, potentially triggering profit-taking.

XRP’s latest Elliott Wave setup highlights $6.19 to $8.07 as the first major Wave 5 target area, while a breakout above may drive the price higher.

If the momentum continues and XRP breaks above this zone, further price extensions are possible. The analysis highlights $11.45 as a significant stretch target, with cycle expansion potentially pushing XRP to $13 or higher. In the event of intensified momentum, XRPs price could attempt to reach $17, and, under exceptionally bullish circumstances, even $27.