XRP Sees Large Exchange Outflows, Will a Full-Fledged Elliott Wave 3 Rally Begin?

▲ Ripple (XRP) ©

XRP (Ripple), which sent a strong accumulation signal with large-scale fund outflows from exchanges, has drawn market attention with a groundbreaking analysis suggesting it could enter an Elliott Wave 3 expansion and surge up to $31.

According to crypto media outlet Bitcoinist on April 27 (local time), data from on-chain analytics platform Santiment showed that 34.94 million XRP left virtual asset exchanges in just 24 hours on April 24. This marks the sixth largest daily exchange outflow in 2026 and is a strong on-chain signal detected during the price recovery from the $1.30 level in early April to around $1.43.

Generally, exchange outflows are interpreted as a typical bullish signal in the market, indicating investors' intention to move their holdings to personal wallets for long-term retention. According to Santiment's charts, large outflows that occurred in early and late January, early and late February, and late March this year were invariably followed by bullish price movements and price recoveries within a few days.

In addition to these accumulation signals from on-chain data, technical analysis also paints a positive trajectory. Crypto analyst EGRAG CRYPTO projected XRP's long-term price trajectory for 2026 and 2027 based on the Elliott Wave framework on the monthly chart. Currently, XRP is using the 50-period Exponential Moving Average (EMA) on the monthly chart, a key accumulation zone, as a crucial support level. If it forms a downward wick to the 100-period EMA at around $0.96, similar to previous cycles, this would be a once-in-a-cycle entry opportunity, according to the analysis.

The analyst's most crucial assertion is that XRP is currently completing its Wave 2 correction phase and moving into the Wave 3 expansion phase, which is the most powerful bull market. In Elliott Wave theory, Wave 1 signifies the initial breakout that surpassed all-time highs in 2025, Wave 2 represents the ongoing corrective stage that the current price is completing, and Wave 3 indicates the full-fledged upward rally that is about to begin.

Typically, Wave 3 in Elliott Wave theory is considered the most powerful part of a trend. EGRAG CRYPTO calculated the target price for Wave 3 by applying the 1.618 Fibonacci extension of Wave 1 on the monthly chart, predicting that if this price movement materializes, XRP could reach a range of $15 to a maximum of $31.

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