XRP Enters ‘Washout Zone,’ Then Targets $30, Crypto Analyst Says

XForceGlobal, an Elliott Wave analyst, predicts XRP is in a "washout" phase within a corrective structure. This phase could set the stage for a future macro advance with potential targets between $20 and $30. He believes the recent pullback aligns with an "alternative" scenario of an expanded flat correction. This involves a fake-out to new highs followed by a final leg down to flush late buyers. Wave C, driven by emotion, is expected to resolve as a five-wave decline, often reaching the 161.8% Fibonacci extension. He believes the market reverses not from cheap prices, but when sellers exhaust themselves and bullish divergences appear. XForceGlobal identifies a volatile "free for all" zone between $1.50 and $1.08-$1.09 as a potential buy zone after the five-wave decline completes. He emphasizes that the breakout from a multi-year triangle supports the overall bullish five-wave advance. If the corrective leg completes, a new impulsive cycle could lead to a wave three, four, and five sequence. XForceGlobal anticipates a major profit-taking level at $6 as part of a risk management strategy. He uses the macro structure to guide expectations amid market volatility. XRP currently trades around $1.59.