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Bullish
Analyst: XRP Will Soar 60,000% On Tightest Bollinger Bands Ever
Based on the Bollinger Bands signal, crypto researcher Matt “The Great Mattsby” Hughes predicted a record jump for XRP on X and YouTube. Hughes expects XRP's monthly Bollinger Bands to squeeze, indicating a possible rise like prior rallies that witnessed significant gains.
Hughes said via X: “XRP has one of the tightest monthly Bollinger Band squeezes in its history and in crypto right now. The last time it pinched, it rose 60,000%.” The crypto expert detailed how XRP has performed when Bollinger Bands are this tight in a YouTube video.
XRP Could Reach $250
Hughes claims the first incidence happened between September 2016 and March 2017. The Bollinger Bands tightened considerably as XRP consolidated for months. After consolidation, XRP rose 60,000%, according to Hughes.
The second was December 2020–April 2021. These XRP gains were about 1,000%. Hughes said, “So it was much less than this period here and simply because it looks like it wasn't as tight as it was right here [the first time], we can see it was much tighter during the first time.”
The third time. Notably, “is the tightest it has ever been, even tighter than the first time, which suggests that it should explode much higher than previous cycles,” he added.
"It's the tightest in its history, therefore it implies there will be a move soon. Sometimes, we can tell that something is looking more and more like it wants to come out, Hughes said.
He reviewed XRP's price performance against its 20-month moving average and technical analysis. As in past cycles, XRP has spent a lot of time below this moving average before major rises.
In prior cycles, tests of the lower Bollinger Band have led to substantial rallies. “So the price could drop to test it. Perhaps one final flush out into the $0.30s, but if so, it's simply another convergence of the past cycles that price can still break out, he said.
#XRP #Ripple $XRP #CPI_BTC_Watch
Based on the Bollinger Bands signal, crypto researcher Matt “The Great Mattsby” Hughes predicted a record jump for XRP on X and YouTube. Hughes expects XRP's monthly Bollinger Bands to squeeze, indicating a possible rise like prior rallies that witnessed significant gains.
Hughes said via X: “XRP has one of the tightest monthly Bollinger Band squeezes in its history and in crypto right now. The last time it pinched, it rose 60,000%.” The crypto expert detailed how XRP has performed when Bollinger Bands are this tight in a YouTube video.
XRP Could Reach $250
Hughes claims the first incidence happened between September 2016 and March 2017. The Bollinger Bands tightened considerably as XRP consolidated for months. After consolidation, XRP rose 60,000%, according to Hughes.
The second was December 2020–April 2021. These XRP gains were about 1,000%. Hughes said, “So it was much less than this period here and simply because it looks like it wasn't as tight as it was right here [the first time], we can see it was much tighter during the first time.”
The third time. Notably, “is the tightest it has ever been, even tighter than the first time, which suggests that it should explode much higher than previous cycles,” he added.
"It's the tightest in its history, therefore it implies there will be a move soon. Sometimes, we can tell that something is looking more and more like it wants to come out, Hughes said.
He reviewed XRP's price performance against its 20-month moving average and technical analysis. As in past cycles, XRP has spent a lot of time below this moving average before major rises.
In prior cycles, tests of the lower Bollinger Band have led to substantial rallies. “So the price could drop to test it. Perhaps one final flush out into the $0.30s, but if so, it's simply another convergence of the past cycles that price can still break out, he said.
#XRP #Ripple $XRP #CPI_BTC_Watch
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