Analyst Sees XRP Rally to ₱881 ($15)–₱1,175 ($20) Using Elliott Wave Theory

Crypto analyst HovWaves is holding firm on his price projection for XRP, maintaining that the token could climb between $15 and $20 based on Elliott Wave analysis stretching back to 2013.

HovWaves posted his analysis on X, stating his macro primary expectation remains unchanged and he's been looking for that target zone for months. His bi-weekly chart interpretation shows XRP's current structure could either be a Wave 4 consolidation or a deeper Wave 2 correction—and the distinction matters. If the market is carving a Wave 2 pattern, the final target will likely be much higher than the current range. That would require XRP to first break above $1.50, a level traders are watching as the next confirmation point.

The analyst's long-term count identifies a multi-year impulse wave that bottomed in 2020 and surpassed the 2018 peak of $3.4 during the third wave. Other Elliott Wave analysts are circling similar territory. XForceGlobal projects a range between $6 and $14 after a final shakeout, while analyst notch Elliott Wave & Technical Analysis suggests fifth waves in cryptocurrencies often deliver the greatest profit—potentially moving seven times the length of the third wave. That historical ratio could push XRP near $27 if the pattern repeats, making HovWaves' forecast look conservative by comparison.

Price action from the start of 2022 lacked strong upward momentum until the breakout that eventually reached the $3.65 all-time high in July 2025. HovWaves' chart shows the corrective ABC phase that bottomed in 2020 set the stage for the multi-year advance that reached $27 under the historical ratio scenario.