- •Analyst Hov reports XRP has rebounded over 50% after perfectly hitting his long‑watched expanded flat support zone.
- •The expanded flat correction appears complete, with Hov targeting $5.50 as the next major resistance.
- •Despite volatility, Hov reaffirms that XRP’s bullish roadmap remains unchanged.
Crypto analyst Hov, known for his detailed Elliott Wave analysis, reported that XRP has completed a significant move down into a long‑watched support zone — and has since bounced over 50% from that level.
“XRP got the move down into our support level for the expanded flat we were following,” Hov said in a post on X. “I said it’ll happen pretty soon, but didn’t expect it to play like that. Nice 50+% bounce off our support level.”
The analyst’s remarks suggest continued confidence in the long‑term bullish setup for XRP, despite the volatile price swings seen in recent weeks.
XRP got the move down into our support level for the expanded flat we were following (threaded)
I said it’ll happen pretty soon but I didn’t expect it to play like that
Nice 50+% bounce off our support level
Regardless of how things unfolded last week, the plan is still… pic.twitter.com/Ji4f8pcBwx
— Hov (@HovWaves) October 14, 2025
Expanded Flat Pattern Completing, Bullish Wave Structure Intact
The accompanying chart shared by Hov illustrates XRP’s price action within a macro Elliott Wave structure, spanning from 2017 through 2027. The current move, labeled as part of Wave IV, appears to have completed an expanded flat correction, a pattern in Elliott Wave theory that typically precedes a strong impulsive rally.
According to the chart, XRP recently revisited a major support zone around the $1.50–$1.80 range, highlighted in blue. This area acted as both resistance and support in previous cycles, particularly in 2018 and 2021, making it a critical pivot zone for the asset.
Following this retest, Hov’s projection outlines a potential Wave V impulse leg, targeting approximately $5.50 as the initial upside objective. The chart’s yellow projection line then extends toward a macro target zone between $8.00 and $9.00, aligning with the completion of the larger‑degree Wave (3) structure.
“Plan Remains the Same” — Analyst Reaffirms Long‑Term Bullish Outlook
Despite short‑term volatility, Hov emphasized that the broader bullish roadmap for XRP remains unchanged. His analysis suggests that XRP is transitioning from a corrective phase into the early stages of a new upward macro cycle.
“Regardless of how things unfolded last week, the plan is still the same — $5.5ish is our first target on the way to our macro target,” Hov reiterated, noting that the structure is playing out as anticipated, just with a sharper‑than‑expected dip.
This consistent outlook underscores the analyst’s confidence in XRP’s technical resilience, especially as it continues to respect historical support levels while forming higher macro wave structures.
XRP Building Foundation for Wave V
Elliott Wave practitioners often view expanded flats as the final corrective phase before a trend continuation. With XRP’s corrective pattern potentially complete, the current technical framework implies that Wave V, the next impulsive move, could target multi‑year highs.
In this scenario, $5.5 acts as the first major resistance area, representing both a Fibonacci extension target and a psychologically significant round number, while higher targets between $8 and $9 correspond to the upper bounds of Hov’s macro projection.
Conclusion
After a steep correction into its expanded flat support, XRP’s strong rebound has reinforced bullish sentiment among technical traders. Hov’s latest analysis points to a continuation of the long‑term uptrend, with the $5.5 region as the first waypoint on the path toward higher macro targets.
If the current Elliott Wave count holds, XRP could be entering one of its most decisive impulsive phases since 2017, potentially setting the stage for a multi‑year rally ahead.