In financial markets, the quiet before a breakout often conceals the most powerful moves. XRP now appears to be in that calm — a tightening range that’s preparing to erupt. After weeks of compressed trading and capped volatility, the cryptocurrency is positioned at a critical juncture.
According to Elliott Wave analyst Hov, XRP could be on the verge of initiating one of its strongest upward impulses yet — a move that could swiftly carry it toward $6.90 if key technical conditions align.
XRP’s Market Structure and Current Performance
As of report time, XRP trades around $2.97, holding steady despite a broadly consolidating crypto market. The token’s recent price action has been characterized by higher lows and diminishing downside pressure, suggesting sustained accumulation beneath the surface.
With Bitcoin hovering above $124,000, risk appetite across digital assets is recovering, providing a constructive backdrop for potential continuation in XRP.
$XRP about to teleport to $6.9
Since our last XRP update it's been coiling up while capping downside to nothing more than wicks (threaded)
We're right on the edge of confirming our wave 3 of 3 here
Key will be getting a HTF close above 3.25ish
Once that happens I believe… pic.twitter.com/KkfNrykKmV
— Hov (@HovWaves) October 6, 2025
Traders observing the daily chart have noted that XRP’s structure has been coiling within a tight range between the high-$2 zone and the low-$3 area. Each minor dip has been met with renewed buying, reinforcing a sense of latent strength. This accumulation phase, according to Hov, is the necessary prelude to the next major impulsive leg.
Inside Hov’s Elliott Wave Thesis
In his latest X post, Hov describes XRP’s current setup as the prelude to a “wave 3 of 3” formation — the most explosive stage in Elliott Wave theory, known for producing steep and sustained rallies. He identifies the $3.25 region as the decisive barrier that must be broken and held on a high‑timeframe (HTF) close for the next wave to be confirmed.
Once that condition is met, the technical model projects an accelerated climb toward $6.90, aligning with Fibonacci extension targets often seen in major third‑wave expansions. Hov’s analysis highlights that the asset has held firm through its consolidation range, even maintaining strength above earlier structural zones that previously acted as deeper support.
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The Technical Road to $6.90
Hov’s projection is grounded in clear market logic. A confirmed breakout above $3.25 would signify the transition from compression to expansion, validating bullish control. Historically, when assets break from such tightly wound structures in a confirmed wave three, momentum often compounds quickly as both traders and algorithms recognize the shift.
The target of $6.90 stems from Fibonacci wave measurements that quantify potential extensions based on earlier impulse lengths. Within this framework, a rapid price acceleration is not speculative — it’s mathematically consistent with prior patterns observed in XRP and other assets undergoing third‑wave expansions.
Balancing Momentum with Market Caution
While the technical outlook is bullish, Hov maintains a measured perspective. Failure to achieve a sustained break above $3.25 could keep XRP trapped in its sideways pattern a while longer. Broader macroeconomic factors and liquidity trends also play a role; shifts in investor sentiment or unexpected regulatory commentary could either accelerate or delay the breakout phase.
Ripple’s completed legal battle with the U.S. SEC has reduced structural risk and improved investor confidence, allowing XRP to trade with a more stable footing. That stability provides the foundation for a possible resurgence once the market confirms direction.
XRP’s chart is at a moment of equilibrium — pressure building, structure tightening, and momentum waiting to ignite. Hov’s Elliott Wave projection provides a clear technical roadmap: a decisive close above $3.25 could trigger a powerful surge toward $6.90, while failure to confirm the breakout may prolong consolidation.
For now, XRP’s resilience and technical precision suggest that the next major move may not be far away.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in‑depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.