Analyst projects $20 target for XRP, outlines 5-wave technical path

The technical case for $20

Amonyx’s weekly chart tracks XRP’s performance through several market cycles, applying Elliott Wave labels to illustrate connections between past corrective phases and subsequent advances. The latest wave sequence positions XRP in the midst of a larger impulsive move, according to the analyst’s interpretation.

Elliott Wave Theory, frequently used by technical analysts, segments market price movements into five distinct waves during bullish phases and three corrective waves. The approach aims to predict future price action by identifying these repeating patterns.

Mini dictionary: Elliott Wave Theory, a technical market analysis method developed by Ralph Nelson Elliott in the 1930s, uses recurring price wave patterns to forecast long-term and short-term market cycles.

The chart places XRP’s price at approximately $1.50 after what the analyst describes as a substantial correction from its all-time high of $3.65 recorded in July 2025. This recent downturn is characterized as an ABC correction, which is a classic pattern within Elliott Wave analysis. During this period, wave (A) reportedly started after a strong rally to above $3 in late 2024. Wave (B) marked a return to the peak, while wave (C) extended the correction down toward $1, identified as a critical support level.

Amonyx asserts that XRP’s projected advance is mapped as a five-wave sequence, beginning with the recovery from $1 and targeting a final move above $20 following a series of successive technical milestones.

Projected milestones and corrections

The technical roadmap sets out a recovery phase described as wave (1), with XRP currently positioned at $1.42. The next expected step, wave (2), suggests a pullback to around $2.70. Wave (3) is then projected to lead toward the $8.50 area. After this, another correction, wave (4), may bring XRP back to about $5.50.

The final advance, labeled wave (5), is projected to drive XRP to the $20 region and slightly above. This five-wave sequence forms the core of the bullish case presented by Amonyx. The path to $20 is not presented as a single move but as the culmination of a protracted technical formation.

The forecast suggests that XRP’s trajectory toward $20 is anchored on its ability to confirm prior support levels and build sustained momentum across multiple market phases.

Amonyx describes the $1 mark as an essential launch point for the projected gains, while milestone levels such as $3.80, $2.70, $8.50, and $5.50 are highlighted as key waypoints leading up to the $20 target.

Context and analyst profile

Amonyx is recognized within the digital asset community as a technical analyst focusing on large-cap cryptocurrencies. The analyst’s public projections often garner significant attention, especially when underpinned by detailed chart structures and established technical methodologies.