XRP’s ‘Washout’ Phase Could Precede Rally to $30, Analyst Says

In a detailed technical breakdown, Korean Certified Elliott Wave Analyst XForceGlobal describes XRP’s current market structure as an ‘expanded flat correction.’ This specific Elliott Wave pattern is characterized by a deceptive price action where a prior push to new highs acts as a ‘fake out’ before a final, deeper decline attempts to flush out late buyers. XForceGlobal, who shared this analysis in a February 3 video, maintains that the recent pullback does not alter his larger bullish framework but instead pushes XRP deeper into this alternative macro scenario.

The analyst breaks down the three-wave corrective structure: Wave A represents the initial counter-trend move. Wave B is labeled the ‘overconfidence phase,’ where a rally to what he identifies as the all-time high creates a false breakout. The current Wave C, he argues, is the ‘reality check’—a forced exit phase driven by stop losses, broken conviction, and liquidation pressure. ‘It’s a trap and kind of a liquidation structure,’ XForceGlobal said, explaining that those who bought near the Wave B top are now exiting at local bottoms.

The core of XForceGlobal’s argument rests on a measured target for Wave C, derived from the pivot points of Waves A and B using the 1.618 Fibonacci extension. He frames this level not as a mystical number but as a behavioral marker where corrections turn emotional and selling pressure tends to exhaust. According to his analysis, because Wave C is driven by ’emotion and not balance,’ it typically resolves as a five-wave decline, often terminating around this 161.8% extension.

From a levels perspective, XForceGlobal describes a volatile battle zone between roughly $1.50 down toward $1.08–$1.09. He suggests this area could evolve into a potential buy zone, but only after the five-wave decline completes and a reversal sequence provides technical confirmation. Crucially, he emphasizes that a market reversal at these levels is not triggered because the asset becomes ‘cheap.’ ‘It reverses because the sellers are exhausted at those levels,’ he stated, noting that bullish divergences usually begin to appear as selling momentum wanes.

The broader conviction in this technical analysis for XRP is rooted in macro context. XForceGlobal points to XRP’s prior breakout from a multi-year triangle and subsequent rally of roughly 500% as evidence of a completed five-wave advance. The current expanded flat setup, he argues, is a consistent corrective structure following such an impulsive move.

If XRP completes this corrective ‘washout’ leg, the analyst’s roadmap envisions a transition into a new impulsive cycle. This new cycle would follow the classic Elliott Wave sequence of wave three, wave four, and wave five advances. ‘We got a wave three in the making here, a wave four, and then a wave five that’s pending that could bring us up into that $20 to $25, $30 region that we’re looking for at a later stage,’ XForceGlobal projected.

He also highlighted $6 as a major interim level where he expects significant profit-taking and market reassessment, framing it as part of a broader risk-management approach rather than a final price target. At the time of his analysis, XRP was trading at $1.5887, positioning it within the volatile range he identified as critical for the completion of the current Wave C. The entire thesis rests on the meticulous tracking of wave psychology and Fibonacci-derived levels to navigate what he describes as the ‘chaos’ of the current correction.