XRP May Be on the Edge of a Major Price Move Targeting $7.45

XRP may be on the edge of a major price move following several months of technical consolidation. Chart models using Fibonacci extensions and Elliott Wave analysis project a potential surge to $7.45 within two weeks.

XRP price is on the edge of a major move following several months of technical consolidation. Chart models using Fibonacci extensions and Elliott Wave analysis project a potential surge to $7.45 within two weeks.

The prediction is based on observed patterns in the XRP/USDT pair on TradingView and a recent bounce from a key support range. If confirmed, this upward movement could coincide with a rise in XRPL transaction volume to $1.19 trillion and heightened activity around a native DeFi token, CTF.

One analyst’s daily chart highlights a series of corrective waves (A), (B), and (C) forming a descending channel, with the asset trading between $2.13 and a high of $2.56. This prolonged consolidation is part of a classic Elliott Wave setup, preparing the ground for a new impulsive wave upward.

Fibonacci extensions applied from the December low and January peak define major resistance targets. These include $3.28 (0.236), $4.60 (0.5), and $6.19 (0.786). The full extension at the 1.0 level aligns with a projected price of $7.33, closely correlating with the forecasted $7.45. Volume indicators on lower timeframes show increased activity.

Analyst Suggests Transaction Volume May Hit $1.19 Trillion

A possible breakout of XRP could result in broader network effects. In a recent analysis, one analyst suggests that if XRP reaches the projected levels, the XRP Ledger could process up to $1.19 trillion in transaction volume.

The substantial increase from current volumes would reflect heightened network utilization, especially in decentralized finance (DeFi) sectors built on XRPL. Among the emerging tokens is CTF Token, which is a key DeFi component within the XRPL ecosystem and has recently attracted attention due to bullish projections.

Currently trading at $0.28, CTF is linked to a speculative valuation model that places its future market cap at $20 billion. Based on this model, the price per token could increase to as high as $748.50.

A scheduled token burn will support the price projection for CTF. A confirmed supply reduction of one million CTF tokens is set for May 3. Such events have deflationary effects by decreasing the circulating supply, which may help in sustaining long-term price support if demand continues to rise.