The XRP price dropped by 5% last week after the recent rally stalled due to the lack of major catalysts to pump crypto prices. However, a bullish pattern formation and whale activity suggest that Ripple is on the verge of an independent rally in the coming months that could see it reach $12 by 2026.
Elliott Wave Analysis Predicts XRP Price Rally to $12
XRP price is on the verge of an explosive rally to $12, after an analyst identified a bullish formation in the weekly chart. He noted that Ripple has completed a corrective pullback phase of the Elliott Wave pattern between the $2.05 and $1.65 range, suggesting that it is preparing for the third wave, which is usually marked by a strong and long rally to the upside.
In his analysis, EWCycles notes that the target price for Ripple is a 2,900% surge that is likely to occur between 2025 and 2026. This suggests XRP is about to record a 5 to 6 times increase in the price from its current levels.
However, the above rally has its limitations, and it will only depend on whether the altcoin can form new higher highs and higher lows. An ascending channel appears to emerge on the XRP value today, and as long as the altcoin trades within this range, it aims for a strong uptrend.
Whale Accumulation Shows Bull Positioning
Whale activity is also supporting a bullish XRP forecast, with on-chain data suggesting that two cohorts of large addresses have been on a buying spree in the last month.
Addresses holding between 1M and 10M XRP have purchased 190M tokens in the last 30 days, while those with holdings of between 10M and 100M coins have accumulated 440 million during the same period.
Whales are often known to buy when the prices are low as they anticipate a major upswing. Therefore, this accumulation trend by Ripple whales suggests bull positioning, which aligns with the Elliott Wave analysis, suggesting that XRP may explode and become a double-digit crypto.
Short-term Forecast for Ripple Price
The four-hour chart suggests that the price of XRP may be on the verge of an upward movement, as it teases a breakout from the upper trendline of a falling wedge pattern. However, to confirm the bullish momentum usually depicted by this pattern, bullish momentum has to return to the market, and currently, the RSI is at 43, showing that bears are in control.
If this resistance breaks, XRP may be on the verge of a 7% rally in the short term to $2.36, which may clear the path for the next bullish leg to $2.59. Conversely, if this bullish theory fails and the Ripple price loses the support level of $2.13, it may plunge to $1.96.
In conclusion, the XRP price will likely make a bullish breakout towards new highs in the near term, as the Elliott wave pattern and whale activity signal that a major trend to the upside is looming. Furthermore, the four-hour chart signals that Ripple may soon break the barrier at $2.36 and start its journey towards $3.
The post Will XRP Price Hit $12 in 2026: Elliott Wave Pattern, Whale Accumulation Signal Explosive Rally appeared first on CoinGape.
