XRP Price May Replicate 60,000% Value Gain Seen in 2017, Crypto Analyst Matt Hughes Says

Hughes said in an X (formerly Twitter) post that XRP has one of the tightest monthly Bollinger Band squeezes in its history and the entire crypto market right now.

Crypto analyst Matt “The Nice Mattsby” Hughes has highlighted an indicator that suggests the XRP price could record similar gains to those it made in 2017. His analysis comes amid recent optimism in the market that the XRP price could begin to make huge moves to the upside, having consolidated for some time now.

XRP Price May Replicate 60,000% Price Increase

Hughes noted in an X (formerly Twitter) post that XRP has one of the tightest monthly Bollinger Band squeezes in its history and the entire crypto market right now. The analyst noted that the XRP price increased by 60,000% the last time its Bollinger Band squeezed this much. In terms of how high XRP could go, Hughes noted that XRP hitting $250 is possible.

XRP’s mirroring of its 2017 price increase, when it rose by over 60,000%, would propel the crypto token to such heights. Notably, crypto analyst Crypto Bitlord also recently predicted that XRP could make such huge gains, claiming that the crypto token rising as high as $589 is possible.

Meanwhile, Hughes joins several crypto analysts, such as Mikybull Crypto, who have suggested that XRP could replicate its 2017 performance. Mikybull Crypto said that XRP’s current price action suggests that it will mirror its 2017 rally. He, however, gave a conservative price target as he predicted that XRP could rise to $4 if this were to happen.

Crypto analysts Dark Knight and Javon Marks made more bullish price predictions, suggesting that XRP recapturing its 2017 price gains was on the cards. Dark Knight predicted that the crypto token could rise to as high as $18 when this happens. Meanwhile, like Hughes’ prediction, Marks predicted that XRP could see a 39,000% rally and rise to $200.

“Something Big” Is Brewing

In a recent X post, Mikybull Crypto noted that something big is brewing for the XRP price. He claimed that the XRP rally is just starting and that the crypto token will likely pull the 2017 cycle type of rally. The recent market rebound has many crypto analysts feeling optimistic that it is time for XRP to make that move, given how it has underperformed since the year began.

Crypto analyst Armando Pantejo noted that XRP is “definitely” going to $20. He added that the recent explosive breakout above the upper Bolliger Band confirms such a parabolic move. He reiterated that XRP rising to $20 is not a question of if but when it will occur. Pantejo advised market participants to prepare for liftoff.

Crypto analyst Crypto Michael also provided a bullish narrative for the XRP price, stating that the crypto token will have one of the “biggest pumps of the year” once it breaks above $0.56.

At the time of writing, XRP is trading at around $0.55, up over 4% in the last 24 hours, according to data from CoinMaketCap.

Featured image created with Dall.E, chart from Tradingview.com

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