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Pundit: XRP’s Rocket Rally Is Not a Matter of If But When
Market analyst Matt Hughes, widely known as The Great Mattsby, has presented a technical case that XRP is positioned for a major breakout. In his latest analysis, Hughes highlights a pattern of former resistance levels transforming into strong support zones. This development paves the way for the asset’s next upward phase.
Hughes utilized Gann Fan tool on XRP’s weekly chart to identify how historic peaks have shifted roles in the current cycle. The 2018 and 2021 highs, which previously acted as ceilings, are no longer restricting upward momentum. Instead, they now serve as structural backing for the market.
Significantly, Hughes points out that XRP’s ability to maintain above the $1.96 peak recorded in 2021 underscores its underlying strength. The earlier $0.5 to $1 range, which had capped rallies for years, has also been surpassed and left behind. This progression reflects a maturing price structure capable of sustaining higher valuations.
A crucial area of emphasis in his analysis is the $3 level. XRP has occasionally traded below it but consistently reclaimed the zone. Hughes views this behavior as evidence of persistent demand. He maintains that once $3 is established as firm support, XRP will be poised for a breakout move comparable to previous rally phases.
“Will $XRP still moon? Absolutely! It’s not if, it’s when,” Hughes emphasized on his official Twitter account.
As the market awaits further confirmation, many are left wondering what lies ahead. While the current price action may seem volatile, XRP has shown remarkable resilience in recent weeks. Whether this resiliency is a precursor to a larger movement remains to be seen.
Source: timestabloid.com
