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XRP began the week on strong momentum after climbing 8.71% to $2.22 on November 24, driven by renewed optimism linked to the launch of XRP spot ETFs from Grayscale and Franklin Templeton. However, the rally stalled near the $2.20 level, where the asset met heavy resistance and retraced to $2.17 at the time of reporting.
While the pullback surged debate around whether the short-term rally has peaked, Elliott Wave analyst XForceGlobal believes the market remains within a much larger structure that could ultimately lead to significant long-term upside.
According to his assessment, XRP continues to develop within a bullish pattern that has been unfolding for more than a year and still supports the thesis of double-digit price levels over time.
Alternative Path Now in Play
For months, XForceGlobal monitored two possible Elliott Wave outcomes for XRP. The first was a direct, rapid five-wave impulse higher, which would have delivered faster price expansion. However, recent market behavior has invalidated that scenario.
He explained that XRP is now following the alternative — and more realistic — path based on classical Elliott Wave structure. This roadmap reflects a flat pattern, which often delays upward progress by correcting inefficiencies and removing excess speculation before a stronger rally begins.
The sharp market crash on October 10 — when several altcoins dropped between 50% and 70% — served as a key trigger within this pattern. XRP fell 43% to $1.58 during the event but quickly recovered above $2 shortly afterward. XForceGlobal considers this rebound important, arguing that the move marked a structural turning point for long-term price development.
Removing Chart “Distortion” with Line Chart Analysis
To avoid mixed signals caused by extreme candle wicks during volatile periods, XForceGlobal analyzed XRP using a four-hour line chart instead of a candlestick chart. This adjustment revealed a much cleaner view of XRP’s price behavior.
His observations showed that XRP has traded within a wide range between $1.60 and $3.60 since January — nearly a full year of sideways consolidation. Instead of interpreting this as weakness, the analyst suggested the range may represent accumulation before trend continuation.
Within this structure, XRP still needs to complete the final portion of the flat pattern, which requires a five-wave sequence before a long-term breakout becomes possible.
Two Possible Short-Term Dip Scenarios
XForceGlobal emphasized that the current positioning places XRP close to what he describes as a “macro bottom zone.” However, Elliott Wave theory allows for two possible outcomes before the next rally:
PatternOutlookRunning FlatXRP reverses upward without breaking below the previous low of ~$1.60 (less common scenario)Expanded FlatXRP briefly dips below ~$1.60 and bottoms near ~$1.40 before a sharp reversal (more common scenario)
Both patterns are known for “fake-outs,” where short-term weakness misleads traders into thinking a deeper decline is forming right before the real bullish trend resumes.
The analyst noted that Bitcoin may still experience one more downward leg, which could trigger the deeper scenario toward $1.40 before XRP begins its next phase upward.
Wave Structure Points to $20 for Wave 3
Breaking down the micro-structures inside the larger flat pattern, XForceGlobal described setups that could form:
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A diagonal Wave 1
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A completed Wave 2
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A five-wave sequence for Wave 3, potentially forming an ending diagonal or blending into more complex ABC / WXY patterns
These sub-structures could still involve several false signals, but historically they often precede strong movements on higher timeframes.
If XRP continues along this path, the analyst estimates:
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Wave 3 could reach the $20 range
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Wave 5 could extend between $30 and $50
He stressed that these projections are not based on ETF hype or short-term market excitement, but on long-term structural development within Elliott Wave theory.
Why the Structure Remains Intact Despite Volatility
Although some traders view every correction as a bearish signal, Elliott Wave analysts often look at price behavior across an expanded timeframe. According to XForceGlobal, current market conditions do not break the long-term structure — instead, they continue to fill in the requirements needed to complete the large pattern.
He pointed to three main reasons the long-term bullish structure remains valid:
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XRP continues to hold above the macro support range for the majority of its consolidation period
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The current price action fits the expected shape of a flat correction before impulsive continuation
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Rebounds after major downturns have shown strength rather than exhaustion
Until price closes decisively below the projected low zone for an extended period, the structure remains intact.
What Traders Should Watch Next
The next phase of XRP’s chart development will likely depend on:
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Whether price holds above the mid-$1.60 range or dips toward the $1.40 zone
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Whether Bitcoin creates a final downward leg that impacts the broader altcoin market
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Whether XRP remains within the year-long consolidation range on the line chart
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Whether the next wave up forms clean impulsive movement or another contracting diagonal
None of these elements offer precise timing, and Elliott Wave forecasting focuses on structural evolution rather than dates. However, the analyst emphasized that XRP is “far closer to the end of its correction than the beginning.”
A Long-Term Setup — Not a Short-Term Prediction
XForceGlobal reminded traders that Elliott Wave structures develop slowly and can require patience. He cautioned against treating every local movement as a determinant of long-term direction.
Whether XRP remains above $1.60 or briefly dips toward $1.40, the analyst believes that both pathways support the long-term formation that points toward double-digit prices.
Analysts and traders now continue to watch whether the next major move confirms the structural expectations — or challenges the long-term outlook that has been developing for more than a year.
