Crypto analyst predicts massive 800% breakout for XRP
XRP has made a strong comeback, rising above $3, and a crypto analyst believes the technical outlook points to a breakout with potential gains few expected.
Technical analyst Matt Hughes recently shared a chart using a long-term Fibonacci extension, identifying XRP’s next key price targets at $8.30, $13.39, and even $26.63. At its current price of about $3.05, these levels represent potential gains of over 773%.
Hughes commented that “XRP wants to play too,” implying the coin may soon follow other major cryptocurrencies in delivering explosive rallies. His analysis suggests years of consolidation are ending, with the $3 level acting as a springboard rather than a ceiling.
If XRP reaches Hughes’ highest target, a $150,000 investment could grow to more than $1.3 million. Even the more modest targets suggest returns of three to four times the investment.
Fibonacci extensions are a common tool traders use to forecast how far a price could move after breaking a critical level. These projections are based on the Fibonacci sequence, a series of numbers found in nature and often reflected in market patterns.
Traders apply these ratios to estimate future price milestones beyond typical support and resistance zones.
Beyond technical signals, Ripple has been expanding its global partnerships, especially in cross-border payments and custody services. Recently, Ripple deepened its collaboration with Spanish banking giant BBVA under Europe’s MiCA regulatory framework.
Meanwhile, speculation is growing around the possible approval of an XRP exchange-traded fund (ETF), following U.S. approvals for spot Bitcoin and Ethereum ETFs. Supporters argue an XRP ETF could unlock massive new demand.
However, a $26 price would imply a $1.5 trillion market cap, surpassing Bitcoin’s current valuation, making such a figure seem unlikely without significant shifts in adoption or regulation.
Despite this, XRP’s dedicated community, often called the “XRP Army,” remains optimistic, remembering how XRP surged over 35,000% to an all-time high of $3.84 in 2017.