XRP Now Following Silver’s Wedge Trajectory; Here’s the Upside Target
Market data indicates that $XRP may now be following the bullish trajectory observed by silver that led to the precious metal’s latest all-time high.
For context, silver (XAG) witnessed a multi-year symmetrical triangle after it dropped from the previous peak of $49.8 per ounce in 2011.
However, following a breakout above this triangle, a momentum build-up ensued, eventually pushing prices to a new all-time high of $121 earlier this year. $XRP seems to be following a similar pattern, targeting an $8 peak.
Key Points
After its multi-year symmetrical triangle breakout, silver soared 450% to a new all-time high of $121.
$XRP also broke out of a similar multi-year symmetrical triangle in November 2024.
After reaching $3.4 in July 2025, $XRP now trades within a falling wedge structure, building upside momentum.
Silver previously saw a 3-wave pattern, with Waves 1 and 2 building momentum, and Wave 3 leading to the $121 peak.
$XRP currently trades within a similar Wave 2, and the bullish Wave 3 could take prices to $8.
Silver’s Triangle Breakout and Upside Push
Wolverinos, a pseudonymous market technician, pointed out this similarity in his latest TradingView analysis. Notably, despite its recent price struggles on the back of the U.S.-Iran conflict, silver maintains an 11.47% gain this year after soaring by an impressive 147% in 2025.
This builds on a previous breakout from its multi-year symmetrical triangle. Specifically, this triangle formed after silver collapsed from the $49.8 peak in April 2011. After the pullback, silver saw persistent bearish pressure, eventually dropping to $11.6 by March 2020 amid a multi-year underperformance.
Silver 1W Chart | Wolverinos
After the $11.6 low, silver slipped into an Elliott Wave structure, with a rebound to $30 by February 2021 marking the first wave, and a pullback to $17.55 in September 2022 representing Wave 2. Notably, Wave 3 began from here, leading to a breakout from the triangle in March 2024 and eventually pushing prices to the ATH of $121 by January 2025.
$XRP Following the Same Trajectory
Interestingly, $XRP seems to be following silver’s trajectory but at a smaller scale. Notably, $XRP also slipped into a multi-year symmetrical triangle after it dropped from the previous high of $3.31 in January 2018. From here, it saw steep declines and continued to underperform.
$XRP eventually broke above the triangle formation during the November 2024 rally inspired by President Donald Trump’s victory. While silver’s Elliott Wave structure, which resolved within a falling wedge, played out inside the triangle, $XRP’s structure emerged outside the triangle.
$XRP 1W Chart | Wolverinos
Specifically, after the November 2024 breakout, $XRP’s price action followed an Elliott Wave structure, with Wave 1 pushing prices to the $3.6 peak in July 2025. From here, the Wave 2 led to a pullback, and $XRP has continued to trade within this corrective phase, down 61% from the $3.6 high at the current price of $1.40.
The Upside Target for $XRP
Wolverinos’ chart shows that $XRP’s Elliott Wave structure has resulted in a falling wedge pattern, especially the Wave 2 correction. The market analyst suggested that this falling wedge points to a build-up of bullish momentum, similar to what the market observed with silver from 2021 to 2024.
Data indicates that the current Wave 2 correction may now be close to an end, and the imminent Wave 3 could bring the much-needed recovery push. Wolverinos suggests that $XRP’s target for the Wave 3 upsurge sits at $8, representing a 471% increase from current prices.
According to him, $XRP still trades above the support relative to the April 2021 peak. Nonetheless, he argued that the asset does not face much resistance to its upward push. The analyst suggested that once $XRP breaches the falling wedge, the only direction is up. He expects the upward push to occur this year, possibly in Q2.