Analyst Forecasts 1,500% XRP Price Surge to $15 If Current Phase is Wave 2

A cryptocurrency analyst utilizing Elliott Wave theory suggests that XRP may be on the brink of a major price explosion, although the actual outcome hinges on the current phase in the market cycle.

Key Takeaways

Analyst HovWaves predicts XRP could surge to between $15 and $20 if the current price movement signifies a Wave 2 phase.
Despite low price momentum in 2023, bullish sentiment persists among analysts.
The ongoing Elliott Wave structure shows potential for strong price movements, with current trading around $1.43.

This analysis highlights the investor interest in XRP and its potential future performance, framing it within the context of Elliott Wave theory and market sentiment.

In a post on X, renowned crypto analyst HovWaves expressed that his overall expectation remains unchanged. He continues to target a price range of $15-$20 for XRP, clarifying that this aim does not waver even if the current market dynamics differ from his original analysis.

Consistent $15-$20 Target

The price movements of XRP since the beginning of the year have not given the impression that it is gearing up for a significant rise into double-digit figures. Despite this, the subdued upward momentum has not deterred many optimistic analysts who continue to provide bullish predictions based on both technical and fundamental analyses.

Among these analysts is HovWaves, who has shown steadfastness in his projections. Recently, he reiterated on X, “The macro primary expectation remains the same for XRP. I have been looking for that $15-$20 macro target.”

XRP
Source: Chart from HovWaves on X

HovWaves’ prediction is grounded in the flexibility of the Elliott Wave label on the XRP price chart. While the precise structure might differ, the overarching goal of reaching double-digit prices remains. He interprets the current XRP movement as potentially a choice between a minor pullback or a more significant corrective phase, suggesting it could be a 4th wave on a smaller scale or a deeper Wave 2.

Understanding this dynamic is key, as corrections represented by Wave 2 and Wave 4 can appear similar initially, but they typically indicate different potential outcomes once the correction concludes. HovWaves emphasized a critical condition: if the market is indeed shaping a Wave 2, the final price target could be substantially higher. This possibility suggests that the $15 to $20 price range could serve as an intermediate goal if the larger bullish thesis holds true.

Bi-Weekly Elliott Wave Count Indicates Final Surge

HovWaves’ chart showcases an Elliott Wave count that dates back to 2013. It illustrates a completed five-wave impulse pattern, encompassing XRP’s early development up to its 2018 high of $3.40, followed by an extended corrective phase. This correction was a complex ABC formation that reached its low in 2020 before a new impulse wave began.

The current focus is on a five-wave advance stemming from the 2020 low. Waves 1 and 2 appear to be finished, with Wave 3 peaking at an all-time high of $3.65 in July 2025. The analysis suggests that XRP is now within a Wave 4 consolidation, characterized by a downward trend and volatile phases before what could be the launch of the final fifth wave, which aims for targets between $15 and $20.

As of the latest update, XRP is trading at $1.43, with traders looking for a breakout above $1.50.

XRP
XRP trading at $1.42 on the daily chart | Source: XRPUSDT on Tradingview.com