XRP Primed for "Explosive" Surge as Analysts Eye $8 Target
Leading crypto analysts are pointing towards a significant upward movement for XRP, suggesting the digital asset is currently undergoing critical technical preparations for an "explosive" price surge. With key support levels holding firm and volatility compressing, the stage appears set for XRP to potentially reach an ambitious target of $8.
Technical Foundations for Imminent Growth
According to crypto analyst Matt Hughes, known as The Great Mattsby, XRP has successfully defended its long-term trend support and is now showing signs of coiling for a major expansion. He highlights a "perfect bounce" off the 20-month Moving Average, coupled with contracting upper and lower Bollinger Bands on the monthly chart. This volatility compression is a classic precursor to significant directional price action. The October liquidation event, where XRP pierced and then consolidated above its 20-month moving average, further underscores its bullish posture, with the analyst noting that many are currently "bearish right at major high-timeframe support."
The Wyckoff Roadmap to an $8 Peak
Adding to the bullish sentiment, analyst Charting Guy has mapped out XRP's potential trajectory using a Wyckoff re-accumulation roadmap. His analysis suggests XRP is transitioning from a re-accumulation phase into a markup phase on the daily chart. The immediate hurdle is the ~$2.08 resistance level, which XRP must decisively reclaim and hold on retests to validate the bullish sequence. Following this, the roadmap anticipates a rally towards the upper trendline resistance of a descending channel, succeeded by a controlled pullback or "test" to confirm demand. If this test holds, XRP is projected to make a "jump across the creek" (JATC), breaking through the channel. This breakout, a "sign of strength" (SOS), would propel XRP towards the ~$3.40 horizontal ceiling, potentially followed by another brief consolidation before an accelerated final markup leg targets the ~$8 region. XRP is currently trading at $2.13, following this projected path "perfectly" so far.
