Technical analysts report that XRP is exhibiting strong bullish momentum, with Elliott Wave Theory pointing toward a potential fifth-wave surge targeting $6.85. This outlook is supported by converging on-chain data and increasing wallet activity, indicating heightened investor interest.
According to Elliott Wave analysis, XRP is currently undergoing a Wave 4 consolidation phase. A decisive breakout above key resistance levels at $3.07 and $3.61 would confirm the initiation of a Wave 5 rally toward the $6.85 target. Technical charts identify robust support near the $3.15 mark.
On-chain metrics reinforce this bullish case, showing a 13% reduction in the average age of XRP holdings alongside notable spikes in the ‘Age Consumed’ indicator. These patterns suggest significant position adjustments among major holders, historically preceding upward price momentum.
Network activity adds further confirmation, with the number of active XRP wallets steadily increasing. This growth in user engagement signals a strengthening investor base and potential fuel for continued price appreciation.
Recent market performance aligns with the positive outlook: XRP has gained 46% amid rising Relative Strength Index (RSI) momentum. Analysts interpret the current consolidation as preparatory for a potential bullish breakout.