XRP Elliott Wave Structure Eyes $9.69 Top as Corrective Wave 2 Concludes

A notable market watcher believes the current XRP corrective push has concluded, suggesting an Elliott Wave rally to new heights. Notably, XRP has recently faced strong bearish pressure, dropping to around $2.72 at the start of this month, September 2025, after peaking near $3.66 in July.  However, CryptoInsightUK suggests that this decline might have marked the completion of a corrective phase, setting the stage for a major bullish breakout. His chart applies Elliott Wave theory to XRP's price action, presenting a roadmap of potential upside targets if major support levels hold. XRP Now Completing Its Corrective Wave 2 According to the chart, the first major impulsive wave began in late June 2025, carrying XRP from its consolidation phase around the $2 region to a July peak of roughly $3.66 . Notably, this came amid a broader market recovery push. The surge formed a smaller five-wave structure, which CryptoInsightUK labeled as a larger Wave (1). Following this sharp rally, XRP entered what he described as an expanded flat corrective pattern labeled A–B–C, with the final C-leg pulling prices back toward $2.72 at the time of press. Importantly, this correction, which XRP has continued to face, shows declining volume and neutral momentum readings on the three-day RSI. This suggests that the retracement is more likely a cooling phase rather than the start of a deeper downtrend.

Notably, CryptoInsightUK's chart marks the $2.72 region as the major support zone where Wave (2) likely ended. If this level continues to hold, he expects the next phase, Wave (3), to emerge as a powerful impulsive rally.  For the uninitiated, Elliott Wave principles often view the third wave as the strongest and longest, and his projection shows XRP first breaking into the mid-$6 region before potentially reaching as high as $9.69.  However, he also outlined an alternative scenario. Specifically, if XRP drops below the $1.99–$1.94 range, the current bullish count would be invalidated, requiring a fresh assessment of the entire structure. For context, the last time XRP saw this level was in June 2025. Expert Opinions from Other Analysts After sharing his analysis, CryptoInsightUK consulted another analyst, CrediBULL, asking whether his wave count aligned with Elliott Wave rules. Responding, CrediBULL explained that the important question is whether the rally from $1.90 was impulsive or merely a corrective bounce.  He admitted that he was uncertain on that point but stressed that either way, XRP should not revisit levels below $1.90, so the long-term bullish outlook remained intact.  In a separate commentary , CrediBULL added that XRP had already confirmed daily bullish divergences against Ethereum on the XRP/ETH pair, with a three-day bullish divergence also forming. He believes these signals confirm XRP could outperform ETH in the coming weeks and months.

Meanwhile, amid the ongoing downtrend, which has triggered a 10% drop in XRP price over the past three weeks, market analyst Dom highlighted trading behavior on Korean exchanges that might have contributed to the slump. He noted significant net outflows since the $3.60 peak.  https://twitter.com/traderview2/status/1962341476882387304 Specifically, Upbit alone recorded outflows of 536 million XRP, while all other exchanges combined saw 296 million XRP in net outflows. Interestingly, Coinbase and Bitstamp reported net buying during the same period. However, analyst Ali Martinez presented important price levels for XRP's bullish path once a recovery begins. He emphasized that XRP should hold above $2.70 and attempt to reclaim $2.90. Such a move could set the stage for a break above $3.70, and this would confirm the start of the next major upward leg.