TLDR:
- XRP price trades at $2.97, nearing the key $3.25 resistance that may trigger a bullish wave 3 breakout.
- Analyst Hov expects XRP to “teleport” to $6.9 if price closes above $3.25 on the higher timeframe.
- Chart patterns show XRP coiling tightly, hinting at limited downside and a possible parabolic move.
- A confirmed wave 3 formation could spark fast momentum toward $6.9, analysts suggest.
XRP traders are watching closely as momentum builds near a critical price level. The asset has been consolidating for weeks, forming a tight range that some analysts believe precedes a breakout.
Recent chart patterns suggest the token could be preparing for a fast rally. At the center of this outlook is a key resistance point that may determine XRP’s next major move.
According to crypto analyst Hov, XRP’s price structure shows signs of confirming an Elliott Wave 3 formation, often linked to explosive moves. The setup hinges on the token closing above $3.25, which he described as a major breakout zone.
He noted that once that level holds, the asset could “carry into $6.9 in a relatively quick timeframe.”
Per CoinGecko data, XRP is trading at $2.97, down 0.70% in the past 24 hours but up 4% over the last week. The token’s 24-hour trading volume stands at roughly $6.2 billion, reflecting active participation despite minor price retracement.
XRP Price Builds Momentum Near $3.25 Resistance
Analyst Hov’s shared chart outlines a clear wave pattern, where the developing “wave 3 of 3” could be one of the most powerful impulse waves in the cycle. In Elliott Wave theory, this stage often drives steep rallies once the resistance phase is cleared.
The current range, capped around $3.25, forms a key test for bullish continuation. Price action has been coiling up, with lower wicks showing limited downside pressure. This tightening structure suggests growing demand and reduced selling interest.
Market observers view the area above $3.25 as the gateway to renewed momentum. If buyers manage to push and sustain a high-timeframe close beyond that mark, a strong rally could follow.
The next major resistance sits at $6.9, aligning with the target predicted by Hov’s analysis.
$XRP about to teleport to $6.9
Since our last XRP update it’s been coiling up while capping downside to nothing more than wicks (threaded)
We’re right on the edge of confirming our wave 3 of 3 here
Key will be getting a HTF close above 3.25ish
Once that happens I believe… pic.twitter.com/KkfNrykKmV
— Hov (@HovWaves) October 6, 2025
XRP Wave 3 Pattern Signals Possible Fast Rally Toward $6.9
The recent consolidation comes after a prolonged accumulation phase, building the foundation for a potential breakout. Analysts say such compression often precedes high-volume moves, especially when wave structures align across timeframes.
Wave X appears to have completed around $3.25, forming a natural resistance line. A confirmed breakout here would mark the beginning of the next impulsive phase. Traders watching the pattern suggest that volume confirmation will be key to validating the move.
Should XRP break above $3.25 decisively, analysts expect momentum to accelerate rapidly toward the $6.9 target. Such a rally would mirror the speed typically observed in confirmed wave 3 advances, where volatility and participation rise sharply.
The post XRP Price Could Hit $6.9 Fast if $3.25 Breakout Confirms, Says Analyst appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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