EGRAG Crypto Sets $3.40–$3.50 XRP Breakout Level for Potential Wave 3 Move
EGRAG Identifies $3.40–$3.50 as XRP Wave 3 Trigger
According to EGRAG’s recent update on X, XRP would need to reclaim and break above its previous $3.40–$3.50 high for the proposed third wave to gain confirmation. The analyst presents that range as a major signal rather than treating Wave 3 as already underway.
The projected price sequence uses three Fibonacci extensions. EGRAG places the first objective at $8.00, corresponding to the 1.236 extension, followed by $15.09 at the 1.414 extension. The highest target is $31.19, which he associates with the 1.618 extension.
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| Source: EGRAG |
The scenario depends on the interpretation that XRP has completed Wave 2 through an ABC corrective structure. EGRAG describes the first wave as the foundation of the broader move and the second wave as a corrective phase before a potential expansion in Wave 3.
Under that framework, the move beyond $3.40–$3.50 would provide the technical confirmation EGRAG is looking for before the larger targets become relevant to the proposed sequence.
XRP Outlook Includes Fourth and Fifth Waves
EGRAG’s analysis does not treat Wave 3 as the final stage of the projected Elliott Wave structure. He states that Wave 3 is typically 161.8% of Wave 1 and presents it as the main expansion phase within the current setup.
After the potential Wave 3 advance, the roadmap calls for another corrective period in Wave 4. EGRAG then projects a fifth wave that could produce an additional expansion, making the overall structure a five-stage sequence of advances and corrections.
The analyst therefore frames the proposed XRP move as a broader cycle rather than a single price increase. Wave 3 would represent the potential beginning of the major expansion, followed by the fourth-wave correction and a final fifth-wave advance.
The $8.00, $15.09 and $31.19 objectives remain conditional on the proposed Wave 3 scenario developing. EGRAG’s analysis ties those targets to the validity of the Elliott Wave count and, more immediately, to XRP breaking above the $3.40–$3.50 range.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.