As XRP’s price performance shows signs of improvement, analysts are encouraging market participants to take a closer look at the cryptocurrency due to its promising indicators. Analyst Davie Satoshi recently shared insights in a tweet, highlighting what he termed a “textbook Elliott Wave structure” on the monthly log chart for XRP.
The wave count analysis suggests that XRP has emerged from its corrective phase and is now entering wave 3 of a significant 5-wave cycle. Historically, this phase has been characterized by explosive growth. Satoshi predicts that XRP could surge to between $8 and $30 before any significant pullback occurs. This forecast indicates a potential upside of 3x to 10x for current holders, with the coin presently trading at $2.90.
Despite the current 2.60% gain in price over the past day, XRP’s performance reflects a considerable 12.5% decrease over the last month. Satoshi’s optimism for XRP extends beyond mere technical analysis; he also cites several bullish fundamental developments contributing to his outlook.
One of the major catalysts is Ripple’s recent acquisition of Rail Financial, alongside the launch of the RLUSD stablecoin. Rail Financial is known to process about 10% of all stablecoin transactions, and routing these transactions through the XRP Ledger could substantially enhance utility and volume. According to Satoshi, this strategy allows Ripple to expand its On-Demand Liquidity (ODL) services without relying heavily on traditional banking systems.
Another significant factor is the impending global rollout of the ISO 20022 payment messaging standard, set for this November. This new standard is being embraced by banking and financial networks worldwide, with RippleNet already compliant, positioning XRP favorably as a bridge asset. Additionally, the conclusion of the SEC lawsuit has cleared a critical hurdle for XRP, establishing its status as not being a security—an advantage that most altcoins lack and that could spur institutional adoption.
Further amplifying the demand for XRP, Satoshi pointed to potential institutional interest that could arise from expected approvals of spot XRP ETFs. Various firms, including CoinShares, WisdomTree, and Grayscale, have submitted filings for ETF approvals, with decisions anticipated in October. Already, ProShares has launched an Ultra XRP futures ETF offering double exposure on NYSE Arca, which could lead to significant capital inflows resembling those seen during Bitcoin ETF approvals.
Additionally, Satoshi emphasized Ripple’s partnership with Thunes, which operates in over 100 countries and supports more than 80 currencies, connecting over 3 billion digital wallets. Integrating ODL with this expansive network positions XRP as a pivotal bridge asset for remittances, payroll, and cross-border commerce.
Amidst these developments, institutional accumulation of XRP appears to be on the rise, with hedge funds and family offices beginning to regard the token as a safe investment. Satoshi argues that XRP’s growth potential is now beautifully aligned with its utility, a departure from the speculative nature seen in previous years. The combination of global payments, stablecoin flows, and emerging institutional adoption channels suggests that XRP is on the verge of a substantial rally—one supported by both technical indicators and concrete real-world applications.
Readers are advised to take this information as informational rather than financial advice and to conduct thorough research prior to making any investment decisions.
