Why Elliott Wave Theory Suggests XRP Could Challenge $20 This Cycle

An influential South Korean market technician recently detailed the Elliott Wave theory foundations supporting a potential surge to $20 for XRP, even as the token navigates volatile market conditions.

The Setup: XRP’s Unusual Strength Near Previous Records

XRP started 2026 on a positive note, gaining roughly 22.6% within its opening week. This recovery stands in sharp contrast to the 35% pullback experienced during the fourth quarter of 2025, which had pressured prices below $2. However, what distinguishes this cycle from previous patterns is telling.

When examining historical precedent, XRP typically experienced sharp reversals following major peaks—witness the boom-and-bust cycles of 2018 and 2022. Yet the November 2024 surge produced something different. Rather than imploding immediately, XRP maintained support near previous cycle peaks for an extended period, a development that XForceGlobal interprets as foundational strength. The token currently trades at $2.12, having successfully reclaimed that psychological $2 floor that now serves as a critical technical level.

Understanding Corrective Moves Through Elliott Wave Theory

Elliott Wave theory maps market behavior through distinctive patterns during trending and consolidation phases. The framework identifies three primary corrective structures: zigzags (which move counter to the prevailing impulse), triangles (characterized by progressively tighter trading ranges), and flats (sideways consolidations within defined boundaries).

XForceGlobal’s analysis rules out a triangular formation for XRP’s current pattern. Instead, the price action resembles a flat structure—specifically, likely a running flat variant. This distinction matters considerably. Within flat consolidations, traders encounter variations; standard flats move straightforwardly, while expanded and running flats generate deceptive price swings designed to shake out participants.

The presence of XRP pushing beyond a prior resistance level narrows the possibilities: either an expanded flat or running configuration. The running flat scenario appears more probable to the analyst, as it preserves the existing support floor intact without breaking critical lows. This represents what technicians call a false breakout within another false breakout—a setup that historically resolves with powerful directional conviction aligned with the dominant trend.

The Wave Count and Projected Completion

Per Elliott Wave theory mechanics, corrective flats unfold across multiple phases: three downward moves, three upward moves, and a concluding five-wave progression. XForceGlobal contends that XRP already completed the initial five-wave decline throughout Q4 2025’s 35% drop, suggesting this corrective period has largely exhausted itself.

Admittedly, one additional minor dip toward the $1.30-$1.50 band remains feasible. However, recent price movement carries the fingerprint of impulsive action rather than corrective bouncing—a transition that typically signals the inception of renewed upside momentum.

Targets: $5 as Conservative Entry, $20 Within Reach

With XRP ostensibly entering early stages of a fresh five-wave advance, nested impulse waves should layer successively and drive valuations higher as buying pressure intensifies.

XForceGlobal frames $5 as the conservative cycle target. However, the Elliott Wave theory framework accommodates considerably more ambitious levels depending on momentum development. The analyst explicitly mentions $10 as achievable, with $20 and potentially even $30 possible if buying accelerates during the cycle peak.

These projections rest upon the premise that the corrective phase has concluded and that XRP’s recent behavior confirms entry into a powerful impulsive sequence—precisely the setup Elliott Wave traders anticipate before major directional moves.