XRP traders are once again arguing about upside targets after popular chartist Charting Guy reposted a bullish long-term setup and doubled down on his call that XRP can still reach $8 this cycle. โXRP still going to $8, idc,โ he wrote on X in the early hours of Nov. 25, alongside a weekly XRP/USD chart from Bitstamp.
XRP Price Still Has Room To Run
At the time of the screenshot, XRP was trading around $2.25, up roughly 9.8% on the week, with the chart plotting an Elliott Wave structure from early 2023 into a projected peak in 2026. The analysis is built on a dense Fibonacci framework spanning from about $0.25 to a 1.272 extension at $8.29661, which anchors his upside target.
The green wave count shows a classic five-wave impulse. Wave 1 launches from the post-bear-market base into the 0.618 Fibonacci level near $0.915, where the first leg tops out. Wave 2 then retraces for 51 weekly bars (357 days), bottoming just above the 0.382 retracement at $0.41315.
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Wave 3 is drawn as a steep rally off that base, blasting through all mid-range Fibonacci bands and extending beyond the 1.0 level at $3.31700. In the replies, one user suggested the spike to around $3.65 had already completed the fifth wave; Charting Guy rejected that outright: โit wasnโtโฆ was very clearly a B wave.โ
From that high, the chart records a year-long consolidation labelled as Wave 4, annotated as 50 weekly bars (350 days). Price fluctuates between roughly the mid-$2 area and above $3. The Wave-4 low holds above the 0.786 Fibonacci support at $1.61246, never revisiting the $1 region.
From this consolidation, the projected Wave 5 shoots higher from around the $2โ$2.30 zoneโwhere XRP is currently tradingโtoward the 1.272 extension at $8.29661. The โ5โ marker sits at this level, and the projection shows only a modest pullback after touching the band, implying that this area is treated as the probable cycle cap.
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The Fibonacci grid also frames the current battle zone. XRPโs price is oscillating around the 0.888 level at $2.27404, which lines up almost exactly with the latest weekly close, while the prior wave-3 region around $3.317 remains the next major resistance band on the chart.
Not everyone is convinced. โCould still go under 1.50. Still,โ wrote another user. Charting Guyโs response was curt: โno.โ That stance matches the technical layout: in his count, the $1.61 area has already printed the Wave-4 low, and the structure does not include another trip below that support.
Others pushed for higher numbers. โWas hoping for $20+,โ one follower admitted. โcould happen,โ the analyst repliedโbefore clarifying to another user that โ$20 is not on track but still entirely possible.โ His published chart, however, draws no path beyond the $8.29 extension, underlining that mid-single-digit territory remains his primary target for this cycle.
At press time, XRP traded at $2.20.
Featured image created with DALL.E, chart from TradingView.com
