Is XRP Gearing up for a Third Wave Rally or Classic Bull Trap?
According to crypto commentator Sasha why NOT, the question looming over XRP right now isn’t just technical, it’s existential: “third wave or bull trap?”
The market analyst pointed out, “The crypto community is split – is XRP gearing up for the next leg up, or are bears setting a trap?”
XRP’s mid-July surge to a record $3.65 reignited mainstream buzz, fueling both FOMO and profit-taking.
Presently, the frenzy had cooled, with prices consolidating at the $3.25 zone with volatility easing but liquidity still running high.
Sasha’s read blends on-chain and macro signals. On one hand she points to structural positives, such as rising institutional interest, spot-ETF flows into crypto that buoy the market broadly, and whales scooping 900 million coins in a span of 48 hours, developments that increase utility and on-ramps for XRP. Those are the fuel for a legitimate third wave.
Sasha cautions that bull traps often stem from parabolic spikes fueled by short-term leverage, whale concentration, and headline-driven trades, setups that can unravel once momentum fades.
Recent analyst calls range from bullish Elliott Wave targets to more cautious forecasts, highlighting the wide gap in outcome probabilities.
Sasha why NOT acknowledged, “The balance is mixed. Whale accumulation and a legal win favor the bulls, but the technical setup and Bitcoin dominance at 58.87% keep a deep correction in play.”
The analyst pinpointed $3.30–$3.40 as the critical price zone to watch.
XRP Should Hold $3.15
Taking on X, formerly Twitter, market commentator Crypto Eagles noted that XRP had cleanly reclaimed the $3.15 support, signaling a pivotal price-level shift and a more constructive market structure, an inflection that could set the tone for the next rally leg.
Crypto Eagles’ signal went beyond a single candle close. Following a pullback, XRP filled a Fair Value Gap (FVG), a market-structure cue often preceding retests and continuations, then reclaimed and held the $3.15 level, flipping resistance into support.
This FVG fill → reclaim → hold sequence reflects the constructive structure whereby higher lows and confirmed support reinforce a short- to mid-term bullish bias.
The market commentator pointed out, “Price has filled FVG and is now testing the descending trend line. A confirmed breakout above this level would likely take it toward the $3.3 region, with $3.4 as the next key upside target. Maintaining $3.15 as a support base will be critical for sustaining bullish setup.”
Conclusion
Crypto Eagles’ call that XRP’s reclaim of $3.15 is constructive is a concise way of saying price structure has shifted in favor of buyers.
On the other hand, the market is no longer asking whether XRP can rally, it already did. The real question, the one Sasha why NOT keeps returning to, is whether today’s momentum is the start of a durable next leg or a headline peak that lures late buyers into a correction.
