- XRP eyes $27 as wave structure highlights crucial $0.71 support zone
- Analyst flags wave 3 expansion potential following long-term wedge retest
- XRP momentum hinges on holding macro support before major cycle advance
Market attention has returned to XRP following a technical outlook that outlines a potential rally toward $27. The projection, shared by crypto analyst Block Bull on X, places emphasis on structure rather than short-term price movement.
Discussion around the analysis intensified as traders focused on specific price zones instead of the immediate upside. The outlook frames XRP within a broader market cycle that remains in development.
At the center of the analysis sits a critical support retest. XRP is expected to revisit the $0.71 to $0.72 region, an area tied to a long-term rising wedge that has guided price action for years. This zone also aligns with a typical corrective phase within Elliott Wave theory. Such pullbacks often appear uncomfortable but serve as reset points before stronger continuation.
Market participants watching lower timeframes may interpret weakness as bearish. However, the broader structure suggests the move would represent a wave 2 correction rather than a trend failure. Once that support holds and price stabilizes, focus shifts to the next expansion phase. Block Bull identifies wave 3 as the stage where XRP could accelerate sharply.
The $27 target stems from a 161.8 Fibonacci extension measured from prior impulse movement. This level reflects technical expansion rather than speculative optimism. Historically, wave 3 phases produce the strongest directional momentum within market cycles. Increased participation and sustained buying pressure often define this period.
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Technical Levels Driving the XRP Outlook
Beyond headline targets, the analysis highlights several levels shaping the broader thesis. The rising macro wedge remains the foundation of the outlook. A sustained break below $0.71 would challenge the current structure. Stability above that area, however, keeps the projected cycle intact.
After a potential wave 3 advance, the outlook anticipates a corrective pause. This phase, labeled wave 4, could involve a pullback toward a previous cycle high trendline. That trendline previously capped price advances before being reclaimed. Successful retests of such levels often signal trend continuation.
Following consolidation, the structure allows for a final advance. Wave 5 represents a potential cycle peak characterized by increased volatility rather than steady growth. Notably, no timing expectations were attached to these moves. The focus remains on price behavior around clearly defined levels.
Traders continue to monitor XRP as it approaches key support. Market response near $0.71 may determine whether the projected wave 3 expansion remains viable. The outlook positions XRP within a long-term technical framework. Price interaction with critical support levels will likely guide sentiment in the sessions ahead.
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