Cryptocurrency analyst ChartNerd recently highlighted a significant bullish pattern in XRP“s price action, identifying it as forming a Megaphone pattern. This chart analysis indicates that XRP is approaching its Wave 4 low, with expectations that the price will reach approximately $1.50 before a substantial upward movement occurs.
The current structure follows the Elliott Wave theory, where the first three waves have been completed, while the fourth wave is currently in progress. This particular wave represents a corrective phase. Despite a brief upward attempt in early January, XRP retraced and continued its descent in Wave 4.
According to ChartNerd”s illustration, XRP is on track to hit the lower boundary of the Megaphone pattern. Once Wave 4 concludes, the chart anticipates a Wave 5 surge that could break above the upper trendline, indicating a potential rally.
Currently trading around $1.66, traders should closely monitor the support zone near $1.50. A rebound from this critical level would align with the projected pattern and set the stage for the anticipated Wave 5.
Historical data shows that the $1.50 level is a recurring touchpoint in XRP”s technical analysis. Notably, a significant price drop in October 2025 found support at this same level before witnessing a rapid recovery. In the context of the bullish Megaphone pattern, this level serves as a crucial support point for the fourth wave. If Wave 4 successfully reaches this threshold, it could facilitate a stronger final wave, pushing prices higher.
The Megaphone pattern is characterized by widening price fluctuations between diverging trendlines. In the case of XRP, the lower trendline has supported Waves 2 and 4, while the upper trendline has defined resistance for Waves 1, 3, and the upcoming Wave 5. The chart effectively illustrates this progression, showing that the corrective fourth wave is an integral part of a structured cycle.
The amplitude of prior waves suggests that momentum may significantly increase during Wave 5. Wave 3 extended beyond Wave 1, indicating the possibility of a more robust upward move once Wave 4 concludes. Upon reaching the $1.50 support level, the breakout in Wave 5 may exceed previous highs relative to the established pattern.
For traders and investors, the next step is to watch for stabilization around the $1.50 mark. Confirmation of support at this level would bolster the case for Wave 5″s emergence. The Megaphone pattern indicates an inevitable upward movement following this corrective phase, providing a clear technical roadmap for how XRP could progress through Wave 4 toward the anticipated fifth wave.
Disclaimer: This content is intended for informational purposes only and should not be taken as financial advice. The views expressed may reflect the author”s opinions and do not necessarily represent those of Times Tabloid. Readers should conduct their own research before making investment decisions, as any actions taken are at their own risk. Times Tabloid is not responsible for any financial losses.
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