NEW YORK, Feb 5, 2026, 12:08 EST
- XRP traded last around $1.59, with one chart analyst calling it a “washout” phase and projecting long-term targets as high as $30.
- An investor note highlighted demand for the U.S. spot XRP ETF but warned that usage must increase to sustain any gains.
- A Binance Square post outlined possible paths for XRP through 2030, highlighting competition and regulatory challenges as major risks.
After a steep drop, XRP lingered near $1.59 on Thursday. One well-known technical analyst described the token’s move as a “washout” phase, suggesting it might set the stage for a surge to $20 or even $30 further down the line.
The timing is crucial as XRP’s price has plunged sharply since its early-January high, with traders hunting for signs of capitulation — the point when sellers run dry.
Crypto markets run 24/7, so major moves can drop when regular markets are closed. Those shifts often set the pace for weeks ahead.
Korean-certified Elliott Wave analyst XForceGlobal flagged XRP as navigating a corrective pattern — a chart setup aiming to capture market psychology in waves — and noted the current phase might see a sharper drop before a rebound kicks off. 1
In a Feb. 3 video referenced in the report, he called it an “expanded flat” correction, where the previous rally turns into a “fake out” and the following drop shakes out late buyers. He highlighted a volatile “free for all” trading range between roughly $1.50 and $1.08–$1.09, noting that a solid base would probably need confirmation once the decline finishes.
XForceGlobal noted that if the corrective leg wraps up smoothly, his longer-term plan still envisions a push toward the $20–$30 range. He also flagged $6 as a key point for profit-taking and a potential pause to reassess.
A separate note from The Motley Fool took a fundamentals-first angle, pointing out that XRP entered 2026 with reduced U.S. regulatory uncertainty. U.S. spot XRP exchange-traded funds — ETFs that trade like stocks — attracted institutional interest late last year. The report noted cumulative net inflows hit $1.37 billion by mid-January, even though XRP traded well below its early-January peak near $2.40. 2
The note also flagged a slowdown in momentum. It highlighted a $93 million single-day outflow from spot XRP ETFs on Jan. 30 and noted a steep decline in daily transaction fees on the XRP network, which serve as a usage indicator, suggesting that headlines might not sustain the rally.
On Binance Square, BitcoinWorld laid out a detailed XRP price forecast, mapping out yearly ranges through 2030. The analysis pinned a potential rise to $5 on increased real-world payment volume, clearer regulations, and Ripple’s ability to deliver. It flagged competition from Stellar and established payment systems like SWIFT as risks if banks or central banks develop their own solutions. 3
The risk—even for bulls—is that the “washout” won’t halt cleanly at a key chart level. A sharper selloff could shake faith in the ETF thesis and reignite doubts over whether demand is truly structural or just trade flow chasing a story.
Traders are keeping an eye on whether XRP can stay above the $1.50 level highlighted in the technical analysis, while also monitoring if fund flows and on-chain activity begin to align.
