XRP Enters ‘Washout Zone,’ Eyes $30 Target, Analyst Predicts
XRP has reportedly entered a critical phase termed the “washout zone,” signaling a potential setup for a significant upward move in the longer term, according to a technical analysis by Korean Certified Elliott Wave Analyst XForceGlobal. In his analysis released on February 3, 2026, the crypto strategist outlined a detailed Elliott Wave corrective structure that frames XRP’s recent price action as part of a broader "expanded flat correction," positioning the asset for a future macro advance.
Understanding the ‘Washout Zone’ and Elliott Wave Correction
XForceGlobal explains that XRP’s recent pullback deepened its position within an "alternative" macro scenario involving an expanded flat correction—a structure where an initial move to new highs is ultimately a “fake out” before a final downward leg aims to clear late buyers from the market.
In this scenario, Waves A, B, and C represent different phases of the correction:
- Wave A: The initial counter-trend move signaling the start of a correction.
- Wave B: An "overconfidence phase," resembling a deceptive rally that lures buyers into false security.
- Wave C: A forced exit stage, where stop losses, broken conviction, and liquidation pressure lead to a sharp sell-off.
“The C Wave becomes the reality check where everyone who bought the B Wave at the top is now wrong and exiting at the local bottoms because of their stop losses or loss of confidence,” XForceGlobal states.
Wave C and Key Price Levels
The analyst places particular emphasis on the 1.618 Fibonacci extension derived from pivotal points of Waves A and B as a critical behavioral marker. This level often coincides with emotional exhaustion among sellers and marks the completion of Wave C’s five-wave decline pattern, which generally exhausts selling pressure.
XForceGlobal describes the current trading arena between approximately $1.50 and $1.08–$1.09 as a highly volatile “battle zone” where bulls and bears contest to establish a base. He suggests this zone could evolve into a buy opportunity—but only after the five-wave decline completes and a reversal is confirmed.
“Markets do not reverse because prices are cheap but because sellers run out of ammunition and bullish divergences start to appear,” he adds.
From Correction to New Upside Cycle
Placing XRP’s recent performance in a macro context, the analyst notes that XRP previously broke out of a multi-year triangle pattern before surging nearly 500%, an indication of a significant five-wave advance. The current price action aligns with an expanded flat corrective pattern—a non-impulsive pullback followed by an extreme B-wave push and a new low below prior market structure.
Should XRP complete this corrective phase, XForceGlobal predicts a promising impulsive cycle ahead, featuring the classic wave three, wave four, and wave five sequence. This new uptrend could propel XRP to higher price levels in the $20 to $30 range over time.
Additionally, the $6 level is highlighted as a major checkpoint for profit-taking and reassessment, viewed as a crucial component of a robust risk-management strategy rather than a definitive price target.
Current Market Snapshot
At the time of this report, XRP was trading around $1.59, navigating within the identified washout zone as traders watch closely for signs of a trend reversal.
Conclusion
XForceGlobal’s Elliott Wave-based framework offers a cautious yet optimistic outlook on XRP’s near and medium-term trajectory. While acknowledging the possibility of further downside to complete the corrective wave, he highlights that such a move may represent an important groundwork phase before a resurgence that targets a dramatic increase toward $20–$30. Investors and traders are advised to monitor key levels closely and seek confirmation before entering new positions, given the expected volatility and emotional intensity surrounding this phase.
The above analysis is based on Elliott Wave theory and reflects the opinions of the analyst. As with all trading strategies, caution and proper risk management are essential.