XRP is poised for a major surge, with analysts forecasting a jump to $18 by mid-2025. Elliot Wave projections show a $5 rally before year-end, fueled by bullish market sentiment and strong momentum.

XRP Rally to $18: Elliot Wave Analysis

The above chart from Dark Defender's recent Elliot Wave Theory research shows that the XRP price can rally to $18 by mid-next year. According to the expert, XRP has been and continues to follow this Elliot Wave pattern, Coingape shares.

Dark Defender further disclosed in his investigation that XRP is presently experiencing its third wave. According to the graph, the cryptocurrency will reach a price of $5.8 as a result of this sudden upward trend. The pattern suggests that this $5 surge might occur before the year ends.

Market Correction Expected After $5 Surge

Once the $5 rise takes place, the following move will most likely be a correction, sending the XRP price retracing to roughly $4. The cryptocurrency market is expected to reach its $18 price goal by mid-2025 after this corrective wave 4 move.

XRP has gained more than 64% in the past week, indicating strong bullish momentum. Part of the reason for this price increase is the impending resignation of US SEC Chair Gary Gensler. As Gensler was the driving force behind the Ripple SEC case, which has had a lasting negative effect on XRP, this news is good news for the cryptocurrency.

Analysts Eye $2 to $8 Path for XRP

Crypto expert Armando Pantoja predicted in an X post that a price range of $2 to $2.10 will be the next target for XRP. He made this forecast after XRP broke past resistance and was projected to reach $1.61, the 0.786 Fibonacci level. Pantoja made an intriguing statement, predicting that XRP will have a "easy path" to $8 once it rallies to $2.

Along with pro-crypto Paul Atkins leading the contest to succeed Gary Gensler as US SEC Chair, crypto experts Ali Martinez and CrediBULL Crypto have forecasted that XRP will surge to $2 next. Along with CrediBULL Crypto's $2 price forecast, he also highlighted that the XRP monthly RSI is on the verge of entering overbought territory, which hasn't happened in three years.

Higher RSI Strengthens Bullish Outlook

Since a higher RSI indicates stronger momentum and a more bullish coin, he asserted that this is positive. According to the analyst, this means $2 is the next objective before XRP aims for a new all-time high.

The XRP price was also projected to rise by crypto expert Javon Marks. After escaping a lower-timeframe pennant, he said in an X post that the coin is currently exhibiting indications of significant strength. He then made the comment that a huge upswing continuation above $3 might be happening right now based on this.