XRP ($XRP) is poised to potentially replicate gold’s multiyear rally in 2026, as indicated by analyst Steph is Crypto.

Key Takeaways:

• XRP is aligning with gold’s previous breakout structure, supporting price targets of $8 to $10 if the current pattern persists.
• A failure to reclaim the 100-week EMA might push XRP back toward the $1.61 to $1.97 range.

Gold’s Fractal Suggests Future XRP Price

The optimistic forecast stems from gold’s recovery late in 2022, which occurred after a two-year consolidation phase between $1,620 and $2,055.

From 2020 to 2022, gold followed the classic five-wave structure of the Elliott Wave Theory, featuring a descending channel during the 3-4 wave formation.

XAU/USD Two-Day Chart Image Source: TradingView

In November 2022, gold decisively broke above its long-term resistance, leading to an expansion phase with prices climbing by approximately 180%, reaching about $4,550 in December 2025.

XRP’s recent price movements show significant parallels to gold’s 2020-2022 consolidation phase. After months in a descending channel, XRP surged nearly 30% in early 2026, signaling a favorable momentum for the upcoming year, with Steph’s charts projecting an XRP price of $8-$10 in 2026, representing a 230%-310% increase from current levels.

“What stands out is how closely XRP is tracking that same path, just delayed in time,” the analyst commented, adding: “Hard assets tend to move first. Higher-beta assets follow. Gold already made its move. XRP is just starting to respond.”

Potential Threats to XRP’s Bullish Outlook

XRP’s current recovery resembles its bearish phase from 2021-2022. At that time, rising prices coupled with a declining relative strength index (RSI) created a bearish divergence, marking a macro top and leading to an 85% correction.

During that downtrend, XRP experienced sharp countertrend rallies after testing the 100-week EMA, with some rebounds exceeding 100% gains.

XRP/USD Weekly Price Chart Image Source: TradingView

Nevertheless, these movements didn’t alter the overarching trend, as the price remained constrained by a descending trendline. As it currently stands in 2026, XRP continues trading below this trendline and the 100-week EMA, indicating that the bear market may not be entirely finished.

A decisive reclaim of these levels could facilitate a surge towards $3.00 near the 1.618 Fibonacci level, while failure could lead to a retracement toward the $1.61-1.97 range.

This content does not constitute investment advice. Every trading decision carries risk, and individuals should conduct their research when deciding. Although efforts are made to deliver accurate and timely information, reliability, completeness, or accuracy cannot be ensured.