- XRP may have completed a long correction and formed a market bottom.
- Analysts say the current setup mirrors the pattern before the 2017 rally.
- A Wave-5 breakout could drive XRP toward the $5.85 target.
XRP has spent the past several months moving through a slow and frustrating consolidation phase that many traders now believe may represent the final stage of its correction.
The digital asset is currently trading around $1.38 after a period of mixed performance that has seen short bursts of strength followed by pullbacks.
This kind of sideways movement often appears near the end of a market correction, which is why some analysts are beginning to argue that XRP may already be forming a long-term bottom.
The argument is based on a technical structure that looks strikingly similar to the pattern that developed before XRP’s historic rally in 2017.
Back then, the token spent months drifting through a quiet accumulation phase while the broader market paid little attention to it.
When the breakout finally arrived, the price accelerated rapidly and caught much of the market off guard.
Today, analysts believe the same type of structure may be forming once again.
$XRP’s pattern setup and breakout process was extremely similar to that 2017 move and with this being, there is potential we see this overall run unfold in an identical manner.
Doing so means that right now is only a temporary pullback before a move well above the $20 mark… pic.twitter.com/1MIriZ4Rqn
— JAVON⚡️MARKS (@JavonTM1) March 7, 2026
Several technical charts show XRP completing a large corrective pattern that has been unfolding for months.
According to this view, the correction appears to have finished its final wave, which often marks the point where a new bullish cycle begins.
If the structure continues to play out as expected, XRP could now be entering the early stage of its next major upward move.
This possibility has renewed interest among traders who remember how quickly XRP moved once momentum returned during the previous cycle.
Analysts point to a potential Wave-5 breakout
Furthermore, a number of market analysts have turned to Elliott Wave theory to explain why they believe XRP may be close to a turning point.
Under this model, markets move through a series of impulsive waves followed by corrective phases that prepare the ground for the next advance.
Some analysts, like Dark Defender, believe XRP has just completed an extended corrective structure that lasted several months.
That correction appears to have formed an ABC pattern, which is often seen near the end of a downward phase.
With that structure now appearing complete, analysts say the market may be entering the final upward wave of the cycle.
This final stage is known as Wave 5 and is typically associated with strong bullish momentum.
One widely discussed projection places the next major price objective near $5.85 if the breakout develops as expected.
Reaching that level would represent a substantial recovery from current prices and would mark one of the strongest rallies XRP has seen in years.
XRP completed the large C Wave with 5 Sub-Waves.
Wave 5 towards the $5.85 level is here.
(N F A)#XRP Bull Run will be facemelting. pic.twitter.com/8yQaJcfLjq— Dark Defender (@DefendDark) March 10, 2026
However, analysts also emphasise that the move will likely unfold in stages rather than in a straight line.
Several resistance zones remain along the path, including levels near $1.88, $2.35, and just above the $3 mark.
Each of these areas could slow the advance as traders take profits and the market absorbs new buying pressure.
Still, clearing those barriers could open the door for a much larger move.
Long-term projections stretch far beyond the first targets
While the $5.85 level has attracted attention in the short term, some analysts believe XRP’s potential upside could extend much further.
A more aggressive interpretation of the current wave structure suggests the asset could eventually climb toward the $8 to $14 range during the next phase of the cycle.
In the most optimistic scenario, the final leg of the rally could even approach the $20 region if market conditions remain supportive.
These projections remain speculative, but they reflect growing confidence that the current structure may be setting up a larger trend reversal.
The post XRP hits bottom as setup mirrors a move that preceded the 2017 rally appeared first on CoinJournal.
