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

He rekindled discussions around this bold prediction in one of his latest commentaries on XRP’s price movements. Mattsby laid out a supporting analysis in a detailed YouTube video and subsequent post on X, providing a roadmap to back up his claim.

XRP Sees Tight Bollinger Bands

In his video, Mattsby pointed to the Bollinger Bands on XRP’s monthly chart. He noted that the bands are currently the tightest they have ever been. Historically, tight Bollinger Bands have signaled significant price movements.

Mattsby referenced two previous instances. The first period was from September 2016 to March 2017, and the second was in April 2021. While the 2017 occurrence led to a 60,000% upsurge, 2021 only saw a 1,000% increase due to fewer tight bands. The analyst argues that the current situation, with even tighter bands, suggests a 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 strengthen his point, Mattsby compared XRP to Bitcoin and Ethereum. He showed that their Bollinger Bands are not as tight, reinforcing his belief that XRP is on the brink of a substantial breakout.

Analyst: XRP to $250 Feasible

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.

Mattsby believes 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.

Meanwhile, the analyst further 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

Speaking further, 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 emphasized that this angle has been 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 syncs with his earlier video analysis, where he highlighted XRP’s history of massive percentage gains following periods of tight Bollinger Bands.

Mattsby believes that market symmetry and these historical patterns strongly support the possibility of XRP reaching such high levels. Meanwhile, XRP currently changes hands at $0.5345, up 24% over the past seven days.