As XRP gradually solidifies its position above $3, one analyst is now calling for a price surge of over 773%.
XRP is trading near $3.05 after gaining over 7% in the past week. It recently cleared a short-term resistance level that had briefly stalled its upward momentum. This resistance was at $2.85, where XRP had mostly hovered since the end of August—until this week’s successful breakout into the $3 region.
Meanwhile, looking at the broader chart, XRP’s current level shows it has overcome long-term resistance levels that had capped prices for years. This, along with the recent short-term milestone, is sparking renewed optimism among traders and long-term holders.
XRP Setting Up for 773% Price Surge
In a tweet, technical analyst Matt Hughes highlighted a long-term Fibonacci extension chart showing three major targets for XRP’s next leg higher. The key levels are $8.30, $13.39, and the highest at $26.63.
Market technicians commonly use these Fibonacci levels to identify zones where price rallies may pause and reverse.
Notably, reaching the top projection of $26.63 from XRP’s current price would represent a gain of more than 773%. This is nearly a 9X return for current holders. Interestingly, well-known XRP analyst EGRAG also holds similar expectations, having repeatedly called for a $27 target for XRP this season.
For perspective, someone holding 50,000 XRP would see their portfolio rise to over $1.3 million, a life-changing outcome for many.
Meanwhile, Hughes’ more conservative predictions of $8 to $13 also promise about a 3X to 4X return for today’s investors.
“XRP Wants to Play Too”
Sharing the chart on social media, Hughes remarked, “XRP wants to play too,” implying the cryptocurrency could soon follow other major coins that have posted explosive breakouts. In particular, he made this statement following his bullish outlook on Solana.
Solana’s weekly chart, like XRP’s, shows the coin is ready to break out to higher levels. While SOL is trading at $230 today, Hughes projects a near-term optimistic target of approximately $670, a 3X surge from the current level.
Solana Targets $1,098
Solana’s price has been surging consistently over the past few weeks, posting 15% weekly gains and now approaching its all-time high of $294.
It briefly broke that peak in January this year but dipped to $96 by April. The price has more than doubled since then and is now looking to challenge the peak again.
Interestingly, Hughes indicated that Solana’s price could rise even further to $1,098, aligning with the 1.41 Fibonacci level. This price would give the coin a market cap of nearly $600 billion.
However, it would still be far below the $1.5 trillion market cap XRP would have at the $26.63 level Hughes suggested.
Notably, many industry commentators believe such a price may be too ambitious for XRP in the near term, especially considering the trillion-dollar valuation. Regardless, XRP bulls maintain that the price target is realistic.
They cite factors such as Ripple’s business expansion, institutional partnerships, imminent ETF launches, and treasury asset adoption as reasons supporting this expectation.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
