Crypto
expert
“The
Great
Mattsby”
has
found
something
interesting
on
the
XRP
monthly
chart:
the
Bollinger
Bands
are
the
smallest
they
have
ever
been.
This
trend
has
shown
huge
price
changes
in
the
past,
which
has
led
to
rumours
that
XRP
is
about
to
make
a
big
rise.

Related
Reading

Historical
Patterns:
Previous
Explosions
And
Current
Expectations

Mattsby
looked
at
patterns
before
XRP’s
price
shot
up
after
its

Bollinger
Bands
found
themselves
in
a
tight
range.
One
pattern
was
from
September
2016
and
March
2017,
when
its
price
went
up
by
a
huge
60,000%.

 

In
comparison,
a
similar
trend
in
April
2021
resulted
in
a
relatively
modest
1,000%
increase.
According
to
Mattsby,
the
current
situation
is
different;
the
bands
are
even
tighter
than
previously,
implying
an
oncoming
and
maybe
bigger
price
movement.

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

“It’s
like
a
coiled
spring
ready
to
unleash,”
Mattsby
explained
in
his
most
recent

video.
“The
breakout
force
increases
as
the
bands
tighten.”
This
observation
is
consistent
with
the
technical
notion
that
low
volatility
is
frequently
followed
by
periods
of
high
volatility.

XRP’s
All-Time
High:
The
Long
Road
To
Recovery

It’s
been
more
than
2,000
days
since

XRP
hit
a
high
point
of
$3.31.
The
altcoin
is
worth
$0.5345
right
now,
which
is
84%
less
than
its
all-time
high.
Mattsby
is
still
hopeful,
though.
The
long
time
of
stabilisation,
along
with
the
extremely
tight
Bollinger
Bands,
makes
him
think
that
a
big
price
move
is
coming.

Mattsby
saw
that
the
Bollinger
Bands
for
Bitcoin
and
Ethereum
are
not
as
tight
as
those
for
XRP.
This
unique
thing
about
XRP’s
data
makes
it
stand
out.
Even
though
Bitcoin
and
Ethereum
are
strong
competitors
in
the
cryptocurrency
market,
their
Bollinger
Bands
don’t
show
that
they
are
about
to
break
out,
he
said.

 

XRP market cap currently at $34.2 billion. Chart: TradingView.com

The
$250
Prediction

Mattsby
is
so
optimistic
that
he
even
dares
to
say
that
XRP
will
hit
$250
by
2028.
Using
Gann’s
theory,
he
found
that
the
45°
angle
was
a
key
level
of
support
and
barrier
for
XRP’s
price
history.
He
thinks
XRP
will
go
in
this
direction,
maybe
to
test
it
as
support
before
bursting
into
the
$250
level
of
resistance.

Related
Reading

Mattsby
supported
his
projection
by
using
Fibonacci
retracement
from
XRP’s
2013
high
to
its
2014
low,
finding
important
levels
that
XRP
may
hit.
He
points
out
that
the
3.618
extension
level
is
quite
near
to
his
$250
goal
price.
“If
Bitcoin
and
Tesla
can
reach
comparable
Fibonacci
extensions,
there’s
no
reason
XRP
can’t,”
he
said.

Featured
image
from
SpaceRef,
chart
from
TradingView

Go to Source
Author: Christian Encila

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