XRP Primed for a 60000% Upsurge as Bollinger Bands Signal Imminent Breakout, Market Analyst Predicts $250 Target

The Great Mattsby, a well-known market analyst, maintains that XRP is capable of reaching the $250 price in the next few years.

Renowned market analyst The Great Mattsby continues to champion his bold prediction that XRP is poised to reach a staggering price of $250 within the next few years.

In one of his recent commentaries on XRP’s price movements, he reignited discussions around this ambitious target. Mattsby meticulously laid out a supporting analysis in a detailed YouTube video and a subsequent post on X, presenting a roadmap to back up his claim.

Bollinger Bands Signal Imminent Price Movement

In his video, Mattsby highlighted the Bollinger Bands on XRP’s monthly chart, noting that the bands are currently tighter than they have ever been. Historically, such tight Bollinger Bands have signaled significant price movements.

The analyst pointed to two previous instances. The first period spanned from September 2016 to March 2017, and the second occurred in April 2021. While the 2017 occurrence preceded a 60,000% upsurge, 2021 saw only a 1,000% increase due to fewer tight bands. However, Mattsby argues that the current situation, with even tighter bands, suggests the potential for an explosive price increase.

Mattsby also examined the time elapsed since XRP’s all-time high, calculating it to be 2,373 days. Notably, XRP is down 84% from its $3.31 ATH, attained in January 2018. The analyst contends that this prolonged consolidation, combined with the tight Bollinger Bands, indicates that a significant move is imminent.

To further strengthen his point, Mattsby compared XRP to Bitcoin and Ethereum, showing that their Bollinger Bands are not as tight, reinforcing his belief that XRP is on the brink of a substantial breakout.

Analyst Predicts XRP at $250

The analyst then utilized the Gann theory to support his $250 prediction. He called attention to the 45° angle, showing how it has historically acted as support and resistance.

According to Mattsby, XRP’s price will follow this angle, potentially testing it as support before surging towards the resistance level. He calculated that this could align with the $250 target by 2028, a price target he says is feasible despite widespread skepticism.

In another development, the analyst pulled a Fibonacci from the XRP 2013 high to the 2014 low, identifying key levels that XRP could reach. He noted the importance of the 3.618 extension level, which aligns closely with his $250 target. According to him, other assets, like Bitcoin and Tesla, have reached similar Fibonacci extensions.

Updated Price Analysis: A Visual Guide

In a recent post, Mattsby shared a detailed chart that visually supports his $250 prediction amid XRP’s ongoing recovery. He drew attention to a specific green angle that has historically been a critical support and resistance level for XRP.

A $250 $XRP by 2028??

So a ±60000% $XRP does line up with the math of that green angle, which was also a very important support and resistance angle in the past (highlighted). Proof that its not impossiblehttps://t.co/LDzEiKjz5Z pic.twitter.com/v0qHTg9MFv

— The Great Mattsby (@matthughes13) July 11, 2024

The accompanying chart projects a potential future price path, showing XRP rising significantly over the next few years. Mattsby highlighted this angle as being essential in the past, further justifying his prediction.

The chart features a blue box indicating the potential price range and percentage increase, suggesting a 58,820.37% rise to reach the $250 level. This aligns with his earlier video analysis, where he highlighted XRP’s history of massive percentage gains following periods of tight Bollinger Bands.

Mattsby expressed his strong belief that market symmetry and these historical patterns support the possibility of XRP reaching such high levels. Meanwhile, XRP currently trades at $0.5345, up 24% over the past seven days.

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