XRP's Wave 3 Breakout Hinges on Reclaiming Critical Resistance Levels

XRP's price may be nearing a significant moment in its current market cycle, according to prominent market analyst EGRAG CRYPTO. In his latest technical analysis, he argues that XRP is likely completing its Elliott Wave 2 correction, potentially paving the way for a Wave 3 breakout.

Wave 3 is widely regarded as the most powerful and aggressive advance in an Elliott Wave cycle. At the core of EGRAG's bullish outlook is a developing bullish divergence between XRP's price and the Relative Strength Index (RSI). While the top altcoin continues to print lower lows, the RSI is forming higher lows, suggesting bearish momentum is fading despite continued price weakness.

Although not a guarantee of a reversal, this pattern has historically appeared near significant market bottoms. From an Elliott Wave perspective, Wave 2 represents the corrective phase following the initial impulsive rally. If the correction is nearing completion, XRP could be on the verge of entering Wave 3, a stage that often delivers the strongest gains as buying momentum, market confidence, and capital inflows accelerate.

However, EGRAG emphasizes that XRP must first break out of its corrective structure and reclaim several critical resistance levels. The most important hurdle lies between $1.30 and $1.60, where sustained closes would signal that buyers have regained control and significantly strengthen the bullish case.