Based on technical analysis, the price of XRP is once again trending positively. The forecast this time comes from The Great Mattsby, a professional trader and chartist. In two interconnected tweets, Mattsby sees a technical chance for the price of XRP to rise by nearly 60,000%, perhaps reaching $250 per coin by 2028.

XRP Price Predictions: Technical and Non-Technical Insights

Unlike other traders who use indicators like RSI and MACD, Mattsby bases his analysis on mathematical calculations and Gann Theory.

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

He noted that the potential is consistent with the math of a specific green angle, which has traditionally been a critical support and resistance angle. This historical relevance, as shown in his analysis, demonstrates that such a surge is not implausible.

Mattsby also uses the Bollinger Bands indicator to discover a similar pattern on the one-month chart that appeared right before XRP’s prior price jumps.

Despite these encouraging technical indicators, the lack of a higher high on the monthly chart, which only shows lower highs, may result in continued consolidation for XRP price. This suggests that non-technical considerations, like the outcome of the Ripple-US Securities and Exchange Commission legal lawsuit and real-world adoption, must also be considered.

Previously, we reported Web3 Enabler, which integrates XRP payments into the Salesforce platform via an open-source app. Furthermore, CNF highlighted that Ripple could secure another victory after the Inspector General discovered a conflict of interest with its opponent in the case.

Meanwhile, XRP is trading at $0.4456, up 1.92% over the last 24 hours on a trading volume of $894.46 million. This upward momentum, backed by technical insights and continuing events, indicates that XRP remains a focal point in the cryptocurrency market.

More By This Author: