XRP (CRYPTO: XRP) could face another decline toward $1.22 before staging a recovery.
Analyst CryptoinsightUK expects XRP to complete an ABC correction, potentially falling to $1.22 next week, with further downside toward $1.15–$1.18.
In an Oct. 15 podcast, the analyst projected an initial decline to $1.26, a rebound to $1.67 and a final liquidity sweep toward $1.22, potentially creating an accumulation opportunity.
A successful recovery could push XRP toward $1.85 to $1.90, setting the stage for its next bullish move.
Could XRP Rally To $9–$13?
Using Elliott Wave theory, Crypto Insight UK suggested XRP may be completing a larger second-wave correction following its initial rally that began in November 2024.
If the structure holds, the next major third wave could initially push XRP toward $3–$4, with a potential extension toward $9–$13.
The analyst based these projections on the magnitude of XRP’s previous rally and typical Elliott Wave extension ratios.
He cautioned that such a move could unfold over several months, with sharp corrections between bullish phases rather than a continuous rally.
What Could Trigger The Next Rally?
CryptoinsightUK warned that Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) could experience another liquidity-driven selloff before the broader crypto market resumes its recovery.
He identified Bitcoin’s $77,000 region and Ethereum’s $2,200 level as potential downside targets.
A geopolitical or macroeconomic shock could trigger the final selloff, although the analyst believes such an event might also mark a significant market bottom.
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