XRP price may be approaching the end of its current correction, with analyst XForceGlobal arguing that the token is now “inches away” from completing a Wave 2 bottom before a potential Wave 3 advance.
His October 17 chart places XRP around $1.31 and identifies a retracement zone between the 61.8% and 78.6% Fibonacci levels as the area where the correction could finish.
If that Elliott Wave count is correct, XForceGlobal expects the next impulsive phase to carry the XRP price back toward roughly $3, which he describes as a conservative Wave 3 objective.
From $1.31, a move to $3 would represent approximately 129% upside.
What you'll learn 👉
XRP Is Entering the Zone Where a Bottom Could Form
The daily Coinbase chart maps XRP’s larger decline from the 2025 highs into what XForceGlobal interprets as a completed corrective structure near $1 in August.
That was followed by a powerful advance toward approximately $1.65, which he labels Wave 1 of a new bullish sequence.
XRP has since given back a large portion of that rally.
The chart places the 50% retracement around the current $1.30 region, but XForceGlobal expects Wave 2 could extend deeper before finishing. His preferred bottoming area is roughly between the 61.8% and 78.6% Fibonacci retracement levels.
Visually, that corresponds to approximately $1.20 down toward $1.10.
His projected path even allows for another dip into that region before the trend reverses.
That is important because the analysis is not calling $1.30 the exact bottom. It argues that XRP is getting close to a wider zone where the bottom could develop.
Why Wave 3 Could Be Much Bigger
Under Elliott Wave theory, Wave 3 is commonly expected to be one of the stronger impulsive phases once Wave 2 has finished.
XForceGlobal’s chart projects XRP moving from the retracement area toward approximately $3.10-$3.20 during the next wave, with the broader structure potentially continuing toward a later Wave 5 above $4.
Those are chart projections, not confirmed targets.
For the $3 thesis to become more credible, XRP would first need to stop producing lower lows and recover the resistance levels created during its recent decline.
The $1.40 area is an early checkpoint. Above that, roughly $1.50-$1.55 and the previous cluster high around $1.65 become much more important.
Breaking that $1.65 area would provide considerably stronger evidence that a new impulsive structure is underway.
Read another XRP price analysis: How High Can XRP Price Go in 2026?
Ripple Developments Continue Even as XRP Price Struggles
The bullish technical thesis is developing at a time when Ripple has continued expanding its institutional infrastructure.
On October 14, Ripple announced a partnership with DriveWealth aimed at integrating stablecoins, payments, liquidity, custody and brokerage infrastructure into DriveWealth’s global investing platform.
A day earlier, Ripple and Stripe-owned Privy announced an XRP Ledger wallet integration that will allow applications to create embedded wallets and support XRP, RLUSD and other XRPL assets. CoinDesk reported that XRPL had also processed more than 14 million AI-agent payment transactions, although the cumulative monetary value remained relatively small.
Standard Chartered also launched institutional RLUSD custody on XRPL this week, with a planned collateral integration involving Ripple and LMAX Group.
None of these developments guarantees higher XRP prices, but they provide a different backdrop from the weak short-term chart.
What Would Invalidate the Bullish XRP Setup?
The most useful part of XForceGlobal’s chart is that the bullish scenario has a clear area where it starts becoming questionable.
His Wave 2 thesis allows XRP to fall considerably below the current price, potentially toward the $1.10-$1.20 Fibonacci zone.
However, the chart also shows the prior structural low around $1.
A decisive loss of that region would make the proposed new bullish impulse much harder to defend and could force a reassessment of the Elliott Wave count.
So XRP bulls may indeed be approaching an important turning point, but XForceGlobal’s setup still allows for another uncomfortable leg lower first.
For more crypto news and price predictions, click here.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
