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Here’s How High Shiba Inu Must Rise to Turn $1,000 Into $10M, $50M or $100M

Sam Wisdom Raphael
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Here’s How High Shiba Inu Must Rise to Turn $1,000 Into $10M, $50M or $100M

Shiba Inu would need to surpass its all-time high price to transform a $1,000 investment into $10 million, $50 million, or $100 million.

Meme coin sensation Shiba Inu is one of the most successful cryptocurrencies, having presented itself as this gem in 2021. Citing CoinGecko research, a previous report confirmed that investors who committed $12 in Shiba Inu made $1 million within a year in 2021. 

The numerous success stories and verifiable blockchain data has contributed to investor interest. Some of these investors are actively anticipating an uptrend from SHIB similar to the 2021 rally. Various market participants have varying goals, with the $10 million, $50 million and $100 million featuring prominently.

However, for Shiba Inu to replicate the 2021 success, a meteoric price surge is necessary. Consequently, we recently assessed how much SHIB must rally to transform an investment of $1,000 to these target figures.

Required Shiba Inu Price To turn $1000 into $10M, $50M and $100M

Notably, Shiba Inu presently trades for $0.00001953, up 19% over the past seven days. At its current trading price, $1,000 in SHIB would procure 51,203,277 tokens. For these tokens to grow to $10 million in worth, SHIB must appreciate by 999,900% to reach $0.1953. This would see Shiba Inu erase all four leading zeros.

Meanwhile, any investor looking out for a $50 million profit target from SHIBwould need to wait longer. The 51,203,277 SHIB could only turn into $50 million if Shiba Inu skyrocketed 4,999,900% to $0.9765. This price level is a few cents away from $1, a price most analysts do not expect SHIB to hit.

However, investors looking to make $100 million out of a $1,000 investment would have to see SHIB exceed $1. For context, this $1,000 capital would only appreciate to $100 million if Shiba Inu ever hit a $19.53 price. Such a value far exceeds what is obtainable, as there is not enough money to sustain the resulting valuation.

While SHIB has the potential to record impressive growth in this bull run and beyond, these prices are rather ambitious. For context, the lowest target, $0.1953, would lead to an unattainable market cap of $9.76 trillion. Shiba Inu’s biggest setback to these values is its extensive circulating supply, currently amounting to 589 trillion.

Experts Say They Feel Sorry for Shiba Inu and are Staying Away from It

Abdulkarim Abdulwahab
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Experts Say They Feel Sorry for Shiba Inu and are Staying Away from It

Notable figures in the crypto community have expressed apprehension about Shiba Inu and advised staying away from it despite recent price gains.

The crypto scene is witnessing a resurgence of bullish momentum, and Shiba Inu is one of the major beneficiaries. SHIB now trades at $0.00001927, reflecting a rebound of 48.91% from its recent bottom of $0.00001294.

While Shiba Inu still trades about 5% below its monthly high, its latest comeback has attracted significant admiration from proponents in the crypto community. Meanwhile, critics have ignored the massive gains and voiced apprehension about SHIB investments.

Systems Engineer Feels Sorry for Shiba Inu

In a post on X today, Charu Bey, a computer systems engineer, expressed his sympathy for Shiba Inu due to its excessive circulating supply. This sentiment follows an update from community burn tracker Shibburn.

The update revealed that the Shiba Inu burn rate dropped 75.88% in the past 24 hours, with only 156,044 tokens removed from circulation. However, over the past seven days, the burn rate increased by 44%, with 93 million SHIB tokens incinerated.

Reflecting on the situation, Bey lamented the vast supply of 589 trillion SHIB tokens and noted the community’s relative silence. He compared this to the LUNC community, where members are dissatisfied despite burning millions of LUNC daily, with the supply still exceeding 5 trillion units. 

As a result, Bey remarked, “I feel sorry for SHIB,” noting that the widely touted 1 cent dream remains far-fetched for LUNC, much less Shiba Inu.

Staying Away from SHIB Amid Perceived Lesser Upside Potential 

In a separate conversation, Sajad, a widely followed community figure and meme coin enthusiast, declared that he is personally keeping a distance from Shiba Inu. Sajad said he would cease investing in established meme coins like SHIB and Dogecoin this bull season.

According to him, market charts do not support the potential for these coins to deliver astonishing returns in the current bull run. Instead, he believes the technical indicators now favor newer, emerging meme coins.

Moreover, Sajad stressed that even if Dogecoin and Shiba Inu experience a favorable bull run, new large-cap meme coins will likely perform exceptionally well and yield higher profits for investors.

Notably, amid this sentiment, ambitious analysts largely anticipate Shiba Inu to peak around $0.0001 this cycle, which would mark a return of slightly above 400% from its current value. 

Newer meme coins like Dogwifhat (WIF) have already grown by over three times this 400% surge in Q1 and continue to maintain it, with the likelihood of even further surges.

Here Are Large XRP Wallets Pushing Price Over $0.60 for First Time Since April

Albert Brown
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Here Are Large XRP Wallets Pushing Price Over $0.60 for First Time Since April

XRP climbs above $0.60 for the first time since April, driven by whale holdings reaching 51.59 billion XRP amid bullish market sentiment.

Santiment, a market intelligence platform, has recently reported that XRP has climbed above $0.60 for the first time since the market-wide retrace on April 12. This price rebound is underpinned by increased coin holding from whales and sharks with 100,000 or more XRP coins. Notably, a significant turning point in supply accumulation began last August, contributing to the recent price surge.

Significant Holders and Supply Accumulation

A snapshot shared by Santiment highlights this accumulation pattern. Wallets with 100,000 or more XRP coins now hold a new all-time high of 51.59 billion XRP. These wallets collectively possess approximately 85% of the entire XRP supply, marking an 11-month high in terms of supply concentration. 

The accompanying chart shows the correlation between the increasing holdings of large wallets and the price movement of XRP. This rapid accumulation of XRP by whales and sharks indicates strong confidence among significant holders, a typical bullish signal. 

Contrasting Market Perceptions

In another analysis, Santiment confirmed how trader sentiment is following the price action. XRP’s recent emergence has led to a notable increase in bullish sentiment. The chart shows that the weighted sentiment for XRP has turned positive following the price increase. 

Trader Sentiment
Trader Sentiment

On the other hand, Cardano (ADA) is experiencing substantial bearish sentiment, the highest in over a year. The price of ADA has remained 43% lower over the past four months, contributing to the negative sentiment. The chart indicates that weighted sentiment for ADA is deeply negative.

The image provides a comparative view of the weighted sentiment for BTC, ETH, XRP, and ADA. BTC and ETH also have negative weighted sentiments, though not as extreme as ADA. 

Flurry of Large-Scale XRP Transactions 

Elsewhere, The Crypto Basic recently reported that Ripple transferred 150 million XRP amid a 30% price surge, reaching a new monthly high of $0.602. Trading volume also surged, with market participants exchanging $3.26 billion worth of XRP over 24 hours. This marks a substantial 40% increase from the previous day. 

Earlier reports from May also highlighted sustained accumulation patterns among whale addresses. It was noted that addresses holding 1 million and 10 million XRP had been augmenting their holdings since the previous month.

Tangem Wallet Adds Support for Cardano Native Tokens 

Lele Jima
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Tangem Wallet Adds Support for Cardano Native Tokens 

Top crypto self-custody provider Tangem adds Cardano to its list of supported networks, allowing users to secure Cardano-based assets within their wallets. 

The self-custody provider made this known in a tweet yesterday, emphasizing the immediate support for Cardano native tokens (CNT). 

Tangem urged users to update their apps immediately to secure various Cardano native assets, such as Iagon (IAG), SingularityNET (AGIX), Cornucopias (COPI), Snek (SNEK), and World Mobile Token (WMT), among others. 

According to Tangem, users can find their favorite Cardano-based tokens in the “Manage Token” section of their updated app. 

Despite integrating with Cardano, Tangem noted that it has not rolled out support for native staking within the network. However, Tangem plans to integrate the staking feature in the near future. 

Cardano Community Reacts 

As expected, the development triggered positive reactions within the Cardano community, with enthusiasts commending Tangem for its support. 

Some community members promised to purchase Tangem Wallets to express gratitude for this integration.  

Interestingly, popular Cardano stake pool operator Stake with Pride revealed that they bought a set of Tangem cards. The accompanying screenshot shows that Stake with Pride purchased the Tangem Wallet 2.0 Pack of 3 yesterday. 

Tangem Supports Manta Network 

Cardano was not the only network newly supported by Tangem. The top wallet provider also integrated with the Manta blockchain yesterday. 

“We’re delighted to announce that the Manta network is now available in Tangem,” the announcement read. 

Users are also required to update their Tangem app to send, receive, and manage tokens via the Manta network. 

Tangem Now Supports 61 Networks 

Following Tangem’s integration with Cardano and Manta, the wallet now supports 61 networks. These include Bitcoin, Ethereum, Aleph Azero, Hedera, Kusama, XRP Ledger, Shibarium, and Solana, among others. 

As reported in February, Tangem added support for VeChain and XDC networks. Since its launch in 2021, Tangem has been offering safe and secured custody solutions via its card-shaped hardware wallets. It is currently one of the top crypto self-custody providers, with over 1 million cards manufactured since its inception. 

Euphoric XRP Rally Poised to Flip Ethereum as Historic Investment Opportunity: Analyst

Sam Wisdom Raphael
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Euphoric XRP Rally Poised to Flip Ethereum as Historic Investment Opportunity: Analyst

Market commentator The3Antons suggests XRP could be on the verge of flipping Ethereum.

XRP’s value has witnessed a significant pump, marking a notable period of bullish momentum. XRP has spiked over 59% from the July 5 low of $0.3823 to a recent peak of $0.6114. This impressive performance positions it as one of the top gainers among major cryptocurrencies.

In the past 24 hours alone, XRP has surged 13.36%, making it the third-biggest gainer among the top 100 assets and the leading performer within the top 40. Over the past week, XRP is up 39%, securing its position as the second-largest weekly gainer among the top 100 assets.

XRP Poised to Flip Ethereum

Market analyst The3Antons recently highlighted XRP’s exceptional performance in a post. He suggested that XRP is benefiting from a larger trend, which he calls the “Wealth Transfer.” As XRP outperforms the market, The3Antons highlighted his forecast in March, which predicted a major XRP rally.

In the March post, he emphasized XRP’s potential to surpass Ethereum (ETH) in market capitalization during its peak. Recall that XRP and Ethereum previously battled continuously for the second spot on the list of largest assets by market cap. However, ETH has since transcended XRP.

Notably, Ethereum currently boasts a market cap of $419.6 billion, while XRP’s valuation stands at $33.74 billion. With a circulating supply of 55.8 billion, XRP would need to exceed $7.5 to surpass Ethereum’s market cap.

Factors in Favor of XRP’s Growth

The3Antons referred to XRP as the “people’s coin” against corruption, describing its strong community support. He noted that he had been calling on the investing public to jump on meme coins and AI tokens. These asset classes have since performed remarkably. 

Now, he calls attention to XRP, an asset he stresses is not a meme coin or an AI token but the “people’s coin.” The analyst also pointed to the XRP community’s resilience against challenges.

He argued that the XRP community could drive significant investment into the crypto asset. According to him, this large community, combined with a potential price spike, could trigger widespread interest and media coverage, leading to a fear of missing out (FOMO) effect.

The3Antons then highlighted multiple factors that are in favor of XRP’s growth. He pointed out that the over 4 million XRP holders represent a bullish factor for XRP. Such a large community is crucial for driving mass adoption and sustained investment. 

The current market dynamics also favor XRP’s growth. Major crypto whales, including those holding Bitcoin (BTC) and Ethereum, are holding their positions, creating a stable market environment. He further spotlighted a trend of limited funding from ETH and SOL whales into other projects.

XRP Analysis Affirms Growth Potential

The3Antons presented two XRP price charts to support his bullish outlook further. The XRP/USD chart reveals a massive descending triangle pattern that has been forming since 2016. The triangle’s apex is approaching, suggesting a potential breakout. 

XRP Weekly Chart The3Antons
XRP Weekly Chart | The3Antons

Historically, XRP’s price has shown strong support at the base of this triangle, indicating that a downward breakout is less likely. Given the current bullish sentiment around XRP, an upward breakout seems plausible.

The key support level around $0.40 has held firm, preventing any significant downward movement despite various market pressures. XRP retested this support when it slumped to $0.38 on July 5. The recent price surge to $0.6114 suggests increasing investor confidence and bullish momentum.

Moreover, in the XRP/BTC chart, the price is at a crucial support level of around 0.00001025 BTC. Historically, this level has been a strong reversal point. The chart indicated then that XRP may soon experience a bullish reversal against Bitcoin. 

XRPBTC Chart The3Antons
XRPBTC Chart | The3Antons

However, XRP gave up the support amid an unforeseen market bloodbath. Interestingly, with the recent recovery effort, XRP has outperformed Bitcoin by over 23% since July 5.

Former Lawyer Says SEC Won’t Discuss Ripple Settlement in Upcoming Meeting

Lele Jima
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0
Former Lawyer Says SEC Won’t Discuss Ripple Settlement in Upcoming Meeting

Retired securities lawyer Marc Fagel dismisses speculations that the U.S. SEC could agree to settle its multi-year lawsuit with Ripple during its upcoming Sunshine Act meeting. 

For context, rumors have been spreading in the XRP community that the SEC might discuss a settlement with Ripple during its upcoming closed-door meeting. Top SEC commissioners and officials will attend the meeting, which is scheduled for 2 PM (ET) on July 18. 

Potential SEC v. Ripple Settlement 

According to the Sunshine Act notice, the SEC officials will focus on four major agendas, including settlement of administrative proceedings and injunctive actions, as well as resolving litigation claims. 

With settlement being among the four agendas, XRP enthusiasts speculated that the SEC could officially settle with Ripple, thus ending the multi-year legal tussle. 

Popular XRP community figure and Dizer Capital founder Yassin Mobarak recently weighed in on the matter, suggesting that the SEC is unlikely to agree on a settlement with Ripple. 

Upcoming Sunshine Meeting Won’t Lead to a Settlement 

Reacting, Fagel, who was a former SEC regional director, humorously highlighted a recurring pattern of anticipation and disappointment surrounding the regulator’s closed-door meetings. 

He emphasized that the SEC has had about 150 nearly weekly closed-door meetings since it introduced the Ripple lawsuit. 

According to him, the crypto community optimistically speculates that the SEC is discussing a Ripple settlement at each of these meetings, often accompanied by the hopeful declaration, “This is DEFINITELY the one!” 

However, he suggested that the upcoming meeting is not the one that could lead to a settlement in the Ripple lawsuit. 

It bears mentioning that almost every SEC’s sunshine closed-door meeting is accompanied by settlement rumors regarding the Ripple lawsuit. 

However, the regulator has never hinted at plans to settle with Ripple, even after securing a partial defeat in the summary judgment decision. Some experts suggested that the SEC is bent on using Ripple as an example to deter other crypto companies from violating federal securities laws. Hence, it might not settle with the leading crypto payments company. 

Meanwhile, the lawsuit is nearing its conclusion, with the court expected to issue its final decision before the end of the year. Whether the SEC would accept the verdict or appeal the ruling in the Second Circuit remains to be seen. 

Ripple Transfers 150,000,000 XRP Amid Price Surge to New Monthly High Above $0.60

Albert Brown
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Ripple Transfers 150,000,000 XRP Amid Price Surge to New Monthly High Above $0.60

Ripple transfers 150 million XRP amid a 30% price surge to a new monthly high of $0.602, with trading volume reaching $3.26 billion in 24 hours.

Ripple has made headlines with its recent large-scale XRP transactions, coinciding with a significant price surge. Earlier today, XRP set a new monthly high at $0.602, reflecting a 30% increase over the past seven days. 

The recent surge in XRP’s price is mirrored in its trading volume. Over the past 24 hours, market participants have exchanged approximately $3.26 billion worth of XRP, marking a substantial 40% increase from the previous day. 

As these bullish trends prevail, Whale Alert confirmed that Ripple moved the 150 million XRP, valued at $87.49 million, to an unknown wallet on July 16, at 18:11 UTC. 

However, the recipient address remains unidentified, contributing to speculation and intrigue within the crypto community.

The unknown wallet also has a history of substantial transactions. On July 15, it received 10,000 XRP, and on July 11 and 10, it received 515,000 XRP and 200,000 XRP, respectively. 

Ripple’s Transaction History

This recent transfer is part of a series of significant transactions by Ripple. On July 1, Ripple executed two major transactions: 100 million XRP at 21:49 and 200 million XRP at 21:41. 

Additionally, on June 20, Ripple transferred 250 million XRP to a specific address.

Market Impact and Whale Activity

Following the recent transactions, XRP experienced continued price fluctuations. As of today, XRP trades at $0.6063, representing a 11.51% price increase in the last 24 hours and a 36.52% increase over the past week. Notably, XRP outperforms the global cryptocurrency market, which has seen a 13.30% increase in the same period.

The fluctuation comes at a time when The Crypto Basic notes that for XRP to reach a price of $10, it would require a daily trading volume of over $40 billion. This projection assumes a proportional growth in trading volume and market value, emphasizing the significant increase needed for such a price milestone.

Whale activity has played a crucial role in XRP’s recent movements. According to a Santiment report, XRP whales added 3.17 billion tokens by May 28, significantly boosting network activity. 

This accumulation trend occurs despite ongoing legal challenges with the U.S. SEC. Over the past four years, wallets holding more than 10 million XRP have shown considerable movement, with a notable increase in holdings after reaching a low 16 months ago.

Shiba Inu to Surge 855% as Hidden Bullish Divergence Signals Massive Rise

Sam Wisdom Raphael
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Shiba Inu to Surge 855% as Hidden Bullish Divergence Signals Massive Rise

Market analyst Javon Marks believes Shiba Inu could reclaim its all-time high in an upcoming uptrend, identifying a hidden bullish divergence.

Marks, who accurately forecasted SHIB’s rally to $0.000045 earlier this year, now projects an even more significant upsurge. He suggests that SHIB could potentially reach new heights. The latest analysis cites promising technical indicators and favorable market conditions.

The Initial Shiba Inu Analysis

Notably, Marks shared his initial analysis in February, when Shiba Inu traded for $0.00001017. He pointed out a breakout pattern that he believed would lead to a substantial price surge. 

This prediction materialized, with prices spiking to $0.000045, a considerable move, albeit not hitting his highest target. His analysis identified a breakout from a downtrend channel, a crucial indicator.

The chart at the time showed Shiba Inu breaking out of this downtrend channel, which was marked by significant resistance levels. This breakout pattern mirrored previous instances where SHIB experienced large price increases. 

SHIB Targets $0.0000886

Marks’ recent report continues to indicate strong potential for another significant price increase. According to the latest chart, SHIB is poised for a breakout that could propel it to new highs. This analysis draws attention to the presence of a hidden bullish divergence.

A hidden bullish divergence occurs when the oscillator, in this case, the RSI, forms lower lows while prices form higher lows. This pattern suggests that despite lower lows in the RSI, the underlying strength of the price action remains strong. 

Despite Shiba Inu giving up the gains from the previous rally, Marks expects a return to the early March highs. According to him, a similar uptrend is on the horizon. The analyst sets an 855% upsurge to a massive $0.000088598 price. This figure would translate to a new ATH for Shiba Inu.

Interestingly, IntoTheBlock shows SHIB is experiencing large whale buys, a trend it could leverage to aim for this target. Data confirms that bulls have purchased 10.78 trillion SHIB over the past week, indicating increased demand.

SHIB Bulls and Bears IntoTheBlock
SHIB Bulls and Bears | IntoTheBlock

Shiba Inu Current Position

Meanwhile, Shiba Inu currently trades at $0.00001963, showing a 1.66% increase this morning. This price level represents a 55% gain from the July 5 low of $0.00001266. Another critical indicator, the Money Flow Index (MFI), has risen since July 9 and now stands at 59.1, a high not seen since May.

Shiba Inu Technicals
Shiba Inu Technicals

The Money Flow Index is an indicator that measures the inflow and outflow of money into an asset. An increasing MFI suggests that more money is flowing into SHIB, indicating buying pressure. A high MFI typically signals strong market momentum, supporting the potential for further price increases.

In addition to the MFI, the Ichimoku Cloud sends promising signals. The Conversion Line is at $0.00002642, and the Base Line stands at $0.00002551. The Lagging Span is currently on $0.00001704, with Lagging Span A at $0.00002904 and Lagging Span B at $0.00002749. 

These figures indicate that SHIB is trading below key resistance levels, but the overall trend remains bullish. The Conversion Line and Base Line suggest short-term support, while the positions of Lagging Spans A and B indicate potential upward movement.

Binance Launches Massive Rewards for Shiba Inu

Lele Jima
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0
Binance Launches Massive Rewards for Shiba Inu

Prominent crypto exchange Binance announces the launch of a memecoin duel between Shiba Inu (SHIB) and its major rival Dogecoin (DOGE). 

Binance is offering $100,000 rewards in token vouchers for the two-week competition, dubbed Battle of the MEME Dogs. Notably, the contest will run from July 12 to July 26, 2024. During this period, participants are expected to join either the SHIB or DOGE team and complete daily or permanent tasks to earn points. 

Participation Procedures and Points Structure 

Participation in the promotion is easy and does not require any technical expertise. To participate in the event, users must log in to their Binance accounts, visit the activity page, and confirm their participation in the promotion by joining Team Shiba or Team Doge. 

Once participation is confirmed, Binance will redirect users to the mission page, where they can complete daily tasks to earn points for their team. 

Notably, Binance structured the points into six categories- 20 points for sharing the activity on social media, 30 points for daily login, 200 points for referring new users who complete KYC verification, and 250 points for depositing $100 worth of SHIB or DOGE on Binance. 

Additionally, users will receive 350 points when they place a spot or convert order of $100 in SHIB or DOGE and another 500 points for trading a minimum of $1,500 on any of these assets during the promotion period. Besides referring new users, all other activities can be performed every 24 hours. 

Reward Calculation  

After the activity ends, Binance will determine which team has the highest collective points. Users must accumulate at least 3,000 points individually to receive a share of the $100,000 price pool in token vouchers. 

The winning team’s first 50,000 participants will share $50,000, with a cap of $50 per user. Similarly, the first 20,000 users from the losing team will split a prize pool of $20,000, with the maximum allocation per user capped at $50. 

Furthermore, Binance will give $200 each to the top 25 traders from the winning team and $10 each to 2,500 new users who trade SHIB or DOGE during the promotion period. According to Binance, the winner of the competition will be revealed on July 29, 2024, at 00:00 (UTC). 

Shiba Inu Vs Dogecoin Debate Heats Up 

This competition will further enhance the rivalry between Shiba Inu and Dogecoin. Enthusiasts of both assets have been embroiled in a multi-year heated debate over which token is superior. The discussions mainly revolve around utility, market cap, and community support. 

At press time, Dogecoin is currently the world’s biggest memecoin, with a market cap of $18.32 billion. Shiba Inu’s valuation of $11.55 billion puts it directly behind Dogecoin in the memecoin ranking. 

In addition, while Shiba Inu’s official X account has 3,880,059 (3.88 million) followers, Dogecoin boasts 3,981,261 (3.98 million) followers. 

XRP to $250: Expert Details Technicals Supporting This Bold Prediction

Sam Wisdom Raphael
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0
XRP to $250: Expert Details Technicals Supporting This Bold Prediction

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. 

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. 

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