Crypto analyst ChartNerd (@ChartNerdTA) recently shared a chart highlighting XRP’s current price action within a bullish Megaphone pattern. The chart indicates that XRP is approaching its Wave 4 low. According to the pattern, this corrective wave is expected to reach around $1.50 before the next upward movement occurs.
Wave Structure Highlights Corrective Phase
The chart follows an Elliott Wave structure. Waves 1 to 3 have already completed, while Wave 4 is currently forming. This wave represents a downward corrective move. While XRP attempted an upward move in early January, it quickly retraced and continued Wave 4’s downward trajectory.
ChartNerd’s illustration projects XRP moving lower to the lower boundary of the megaphone. Once Wave 4 completes, the chart anticipates a Wave 5 surge that breaks above the upper trendline.
Wave 4 provides a clear reference point for potential entries. XRP is trading at $1.66. Traders observing the asset can monitor the support zone near $ 1.5. A bounce from this level would align with the pattern’s projection and prepare the market for Wave 5.
$XRP's Bullish Megaphone pattern is approaching its Wave 4 low. $1.50 is yet AGAIN the target that is showing its face in this pattern. Coincidence? https://t.co/efFfL4Lbkr pic.twitter.com/jmaU4sPVk2
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) January 31, 2026
Analyzing the Pattern
The $1.5 mark is a recurring point in XRP’s technical patterns. The notable flash crash in October 2025 stopped at this level before a swift reversal. In this Bullish Megaphone, it acts as support for the fourth wave. ChartNerd highlights this level as critical before the next upward phase. If Wave 4 reaches this support, it sets up the potential for the final wave to push prices higher.
The Megaphone patterns show widening price swings between diverging trendlines. In XRP’s chart, the lower trendline supports Waves 2 and 4, while the upper trendline has defined resistance for Waves 1, 3, and the projected Wave 5. The chart clearly illustrates this progression, showing that the corrective fourth wave is part of a structured cycle.
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The amplitude of previous waves suggests momentum may increase in Wave 5. Wave 3 extends higher than Wave 1, indicating potential for a stronger upward move after Wave 4 completes. Once the correction reaches $1.5, the breakout in Wave 5 could surpass previous highs relative to the pattern.
Next Steps for XRP
Traders should watch for stabilization near $1.5. Confirmation of support would strengthen the case for Wave 5 to unfold. The Megaphone pattern indicates an eventual upward move following this corrective phase. ChartNerd’s chart provides a clear technical roadmap, showing how XRP could progress through Wave 4 toward the projected fifth wave.
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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