XRP Wave 3 Points to $15-$31 Target, But XRP Must First Reclaim This Level

The XRP Elliott Wave structure points to a bullish $31 peak for Wave 3, but the price must first reclaim a key level.

XRP has fallen 22.59% this year amid a broader market downturn, but the decline may fit into a larger five-wave Elliott Wave structure that began in July 2024.

Despite the ongoing correction, the overall pattern remains intact, and chart data suggests the forthcoming Wave 3 could eventually push XRP toward the $15 to $31 range. However, the confirmation of Wave 3 requires a decisive weekly close above the $3.6 all-time high.

Key Points

• XRP has dropped 22.59% this year but continues to trade within a broader five-wave structure that started in July 2024.
• Wave 1 drove an 814% rally from $0.39 to $3.66 between July 2024 and July 2025.
• After peaking, XRP corrected 60.5% from $3.6 to its current level near $1.42 as part of Wave 2.
• The pullback falls within typical 50% to 61.8% retracement levels and found support at $1.1 along the lower channel boundary.
• The chart structure points to a potential rally to a range of $15 and $31 for Wave 3, but XRP must first reclaim the $3.6 all-time high from Wave 1.

Wave 1 Took XRP From $0.39 to $3.66

EGRAG Crypto, a well-known market watcher, highlighted this structure in a recent commentary. Data from his chart shows that the first wave of the 5-phase Elliott Wave structure began in July 2024. Notably, XRP traded at just $0.39 at this point. 

From there, the token went on a massive rally, buoyed by the November 2024 upsurge, as it climbed to $3.4 in January 2025. After the surge, XRP pulled back to $1.61 in April 2025, only to bounce again and reach a fresh all-time high of $3.66 in July 2025.

The entire move, from $0.39 to $3.66, marked a gain of about 814% in one year. Throughout the climb, XRP remained inside an existing ascending channel, repeatedly touching the upper boundary before pulling back. The rally showed strong momentum, but it also respected technical limits, which fits the look of a Wave 1 push.

Wave 2 Has Pulled Price Down 60.5% to $1.42

After hitting $3.66 in July 2025, XRP entered its second wave, which represents the correction phase. The token now trades at $1.42, down 60.5% from the Wave 1 peak of $3.6. According to EGRAG, while that drop looks steep, it still falls within normal Elliott Wave behavior.

Wave 2 typically retraces between 50% and 61.8% of the previous move, and in crypto markets, deeper pullbacks can remain valid. XRP has stayed inside its larger ascending channel during this decline. Earlier this month, the price dropped to $1.1, found solid support near the lower boundary, and then rebounded to $1.42.

EGRAG stressed that as long as XRP holds within that channel, the broader structure remains intact. Notably, the correction has not broken the overall pattern.

XRP Must Reclaim $3.6 to Confirm Wave 3

Now, EGRAG’s projections place Wave 3 targets between $15 and $31, but the move will only begin once XRP proves itself. 

The key level to reclaim sits around $3.6, which matches the previous all-time high. XRP must close above that level on a weekly timeframe and show strong momentum. Without that breakout, the market remains in correction mode.

According to EGRAG, Wave 2 could still drag on or move sideways before the next major push starts. He stressed that calling Wave 3 too early would ignore the rules of the pattern. Essentially, a confirmed weekly close above $3.6 would signal that buyers have taken back control.