Crypto analyst CryptoBull has issued a decisive update on XRP’s market structure, asserting that the asset has completed its corrective phase and is now positioned for a substantial upward move.
In a recent post, he stated, “XRP bottom is done. Wave 2 is completed. Next is wave 3 to $28.” The message was accompanied by a weekly chart of XRP against the U.S. dollar on Bitstamp, highlighting what he interprets as the conclusion of a second-wave correction within an Elliott Wave framework.
The attached chart shows a prolonged downward structure on the one-week timeframe, with a clearly defined descending trendline stretching from mid-2024 into early 2026. Recent candles appear to stabilize near the lower boundary of this formation.
CryptoBull’s analysis suggests that this area represents the end of Wave 2, typically characterized in Elliott Wave theory as a corrective retracement following an initial impulsive Wave 1 advance. According to his projection, the next phase, Wave 3, could drive XRP toward $28.
Practitioners generally regard Wave 3 in Elliott Wave analysis as the strongest and most extended impulsive move within a five-wave sequence. By declaring Wave 2 complete, CryptoBull is effectively signaling that the corrective pullback has concluded and that a powerful bullish expansion phase is imminent.
#XRP bottom is done. Wave 2 is completed. Next is wave 3 to $28. pic.twitter.com/TdDEczvjrk
— CryptoBull (@CryptoBull2020) February 17, 2026
XRP Chart Structure and Market Context
The weekly timeframe displayed in the chart underscores the significance of the pattern. The prolonged decline appears orderly, with lower highs and lower lows forming within a narrowing structure. The latest candles show compression near the lower boundary, which CryptoBull interprets as evidence of a completed bottoming process.
The analyst’s projection to $28 represents a substantial move from current price levels and implies a dramatic expansion in market capitalization. While the tweet does not provide detailed Fibonacci levels or time-based projections, the clarity indicates high conviction in the structural interpretation.
Notably, the chart emphasizes the broader multi-month trend rather than short-term volatility. By focusing on the weekly timeframe, CryptoBull frames the anticipated move as a macro-level development rather than a short-term trade.
Community Reactions Reflect Diverging Views
The post generated mixed reactions from market participants. One commenter, identified as Just Me, expressed frustration with repeated wave interpretations, stating, “We’ve gone from wave 1 to wave 5 a half dozen times and have never changed last years all time high. Wave my ass!” The comment reflects skepticism regarding prior bullish wave projections that did not materialize into new highs.
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Another user, Valentijn, countered that criticism by responding, “That’s not true! Only wave 5 can reach that level.” This reply indicates ongoing debate within the community about proper wave labeling and the expectations associated with each phase of the Elliott structure.
A third commenter, goforit123, questioned the reliability of projections, writing, “guessing again? like everyone did all last year?”
CryptoBull’s assertion is unambiguous: in his assessment, the corrective phase has concluded, and a third-wave advance toward $28 is next. Whether the market ultimately validates this outlook will depend on price confirmation in the weeks and months ahead.
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 advised to conduct thorough 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.
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