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After several weeks of narrow trading and muted volatility, the cryptocurrency has reached a crucial point. Analysts suggest that this could be the setup for a decisive move.
Elliott Wave analyst Hov believes XRP may be preparing for one of its most powerful upward surges yet. He explained that if certain technical factors align, the crypto could quickly climb toward the $6.90 mark.
XRP Technical Outlook: Calm Before the Surge
XRP’s price action is showing the kind of structure that often precedes a major breakout. After months of steady consolidation, the cryptocurrency appears to be completing a corrective phase, setting the stage for a new impulsive move.
The weekly chart below highlights a clear Elliott Wave pattern. Following a prolonged accumulation between $0.40 and $0.70, XRP broke higher, establishing a strong wave structure that now seems to be entering its third major leg upward.
 
At the time of analysis, XRP trades around $2.62, hovering near a critical pivot. The structure suggests that waves (iii) of the larger degree could soon unfold — a phase historically known for rapid price acceleration.
According to this projection, the next impulsive rally could target the $6.90 region, and potentially much higher if momentum sustains.
Key resistance remains near the $3.80 area, a level where traders will likely test conviction. A successful breakout above that zone could open the path toward $8.00 and, eventually, the upper Fibonacci extensions between $14 and $18, as shown in the chart.
On the downside, strong support sits around $1.70. As long as XRP holds above this region, the broader bullish structure remains intact. A clean rejection from support and renewed volume could confirm the beginning of the next wave higher.
Ripple’s long-running clash with the U.S. SEC has finally come to a close, and the impact on market sentiment is unmistakable.
With the legal cloud lifted, analysts say a key source of uncertainty has faded, giving investors a reason to breathe easier. Confidence, once shaky, is returning to the XRP market.
That renewed sense of stability has allowed the cryptocurrency to find its footing after years of turbulence. Experts believe this calmer backdrop could form the base for XRP’s next major move — one that might emerge once the broader market shows its hand and momentum begins to shift.
Source: https://zycrypto.com/analyst-says-xrp-ready-to-teleport-to-6-90-in-explosive-elliott-wave-move/