Crypto analyst predicts XRP’s next 800% breakout

Core Viewpoint - XRP has shown significant price recovery, with technical analysis suggesting potential breakout targets that could yield substantial returns for investors, with projections reaching as high as $26.63 from the current price of approximately $3.05, indicating a potential gain of over 773% [1][2]. Technical Analysis - Technical analyst Matt Hughes has identified long-term Fibonacci extension levels for XRP, with major targets set at $8.30, $13.39, and $26.63, indicating a strong bullish sentiment [1][3]. - The analysis suggests that XRP's price consolidation over the years is breaking, with the $3 level acting as a launchpad for further gains rather than a resistance point [2]. Market Dynamics - Ripple has been expanding its global partnerships, particularly in cross-border payments and custody solutions, enhancing the optimism surrounding XRP [4]. - Speculation regarding the potential approval of an XRP exchange-traded fund (ETF) is increasing, especially following the recent approvals of Bitcoin and Ethereum ETFs in the U.S., which could lead to significant new demand for XRP [5]. Community Sentiment - The XRP community, known as the "XRP Army," remains optimistic about the coin's future, drawing parallels to its previous explosive growth in 2017 when it surged over 35,000% to reach an all-time high of $3.84 [6].