XRP Price Forecast: Fibonacci Levels Indicate Potential Surge to $8.40 and $27

XRP has shown remarkable momentum over the past week, with its value recently surpassing $2.60 — a level not seen since early March. This latest rally aligns with bullish projections made by several market analysts, many of whom are using Fibonacci extensions to forecast XRP’s upward potential.

A prominent analyst on X (formerly Twitter) has highlighted two key Fibonacci levels suggesting XRP could climb to $8.40 and $27 within this bull cycle.

Chart Patterns and Fibonacci Targets

The recent breakout above a long-standing wedge pattern—active since 2021—has significantly influenced XRP’s current cycle. This pattern, clearly visible on the monthly charts, had previously restrained price action and defined a narrow trading range. Its breakout marks the end of a multi-year consolidation and the start of a new bullish phase.

Despite experiencing pullbacks since reaching $3.31 in January, XRP appears to be regaining upward traction. Based on the Fibonacci extension strategy, the analyst has identified two possible targets: $8.40 at the 1.272 level and $27.23 at the 1.618 extension.

This approach mirrors historical patterns observed in XRP’s 2017 cycle. Back then, XRP surged from $0.00310 to $3.40, reaching both the 1.272 and 1.618 Fibonacci extensions during its third major wave—before correcting in the fourth wave of the Elliott Wave Theory.

The current trend, which began from a 2020 low of $0.11379, is being labeled as the fifth impulse wave. Applying the same Fibonacci extensions, the projection lands squarely on the $8.40 and $27 price levels.

Can XRP Realistically Hit These Targets?

The idea of XRP reaching $8.40 or even $27 this cycle isn’t entirely far-fetched, especially when compared to the explosive rally it experienced between 2017 and 2018. However, today’s market environment is more nuanced. Larger volumes of capital and liquidity would be required to support such a price surge.

Technically, the scenario is feasible, particularly if historical price behaviors repeat. Notably, Ali Martinez—another respected voice in the crypto space—has proposed that XRP could soon rally to $15.

As of now, XRP is trading at $2.50, up 3.4% over the past 24 hours and peaking at $2.61 intraday.