XRP to $27-33 as analysts support these targets with Elliott Wave and Fibonacci analysis

Market analyst EGRAG recently discussed the price outlook for XRP and predicted a price increase that could bring the value to double digits.

The analysis, which the market observer revealed in a recent post on X, relied on Elliott Wave Theory and Fibonacci retracement levels to predict XRP’s future movements.

XRP Wave 5 Potential

In particular, the report is based on understanding the magnitude of wave 5 within Elliott Wave Theory, which states that wave 5 is often between 1.236 and 1.618 times the size of wave 4.

Alternatively, the analyst suggested that wave 5 can match wave 1 or cover 61.8% of the combined distance of waves 1 and 3. In all scenarios, the target exceeds Fibonacci level 3, suggesting that XRP could see a massive upswing.

EGRAG presented the first accompanying diagram and noted The movements of XRP over a 3-month period. The chart shows the price action of XRP in a classic Elliott wave pattern, showing wave 1 through wave 4 and forecasting the strength of wave 5.

The Fibonacci levels plotted on the chart show the expected retracements and expansions, with special attention being paid to the levels 1.236 to 1.618. Based on this pattern, EGRAG suggests that XRP could potentially surpass the Fib-3 target of $33.

XRP comparison with BTC and ETH

In the meantime, EGRAG drew comparisons between XRP, Bitcoin (BTC) and Ethereum (ETH)He confirmed that Bitcoin has reached the Fibonacci level 3 but has struggled to hold that level since then, failing to close three consecutive monthly candles above it.

In contrast, Ethereum has broken through Fibonacci level 3 and even reached Fib 4.272, a level much higher than Bitcoin's peak.

EGRAG believes that these comparisons strengthen his optimism for XRP. The analyst suggests that XRP could not only break above Fib 3 ($33) but also be in a macro wave 5 scenario, suggesting that the current market cycle could lead to further price appreciation.

The significant resistance that BTC and ETH have faced in past cycles also shows that XRP has the potential to rise above these levels should Wave 5 develop as expected.

The big picture: XRP at $1,780

The market analyst also discussed the possibility that XRP could reach even higher heights, comparing its potential to Ethereum’s previous market cycle.

In a second XRP chart, he identified a larger wave structure for the altcoin, with the blue wave count representing an alternate scenario with a higher target.

The larger Fibonacci structure and wave count suggest that XRP could target the 4,272 Fibonacci level, a potential price target of $1,780. This is in line with Ethereum's performance during its bull cycle, when it also exceeded expectations and crossed above Fib 4,272.

If XRP reflects Ethereum price movementthere could be a dramatic increase in value, although this scenario is rather speculative and tied to a long-term macro trend.