Despite ongoing market volatility, several technical analysts remain confident that XRP is still positioned for a substantial upward move, with an $8 price target continuing to feature prominently in their outlooks. This renewed confidence follows XRP’s recent recovery above the $2 level, a milestone it had previously lost in mid-December.
Market commentator Matt Hughes, known online as The Great Mattsby, recently endorsed this view, aligning himself with a long-standing projection from technical analyst Charting Guy. According to Hughes, recent price developments reinforce the argument that XRP’s broader trend remains intact, even as short-term market sentiment fluctuates.
Renewed Momentum Above Key Psychological Levels
XRP’s latest price action has drawn increased attention after the asset reclaimed the $2 threshold for the first time in 2026. At the time of reporting, XRP is currently trading around $2, marking its highest level so far this year. The move followed an approximate 8% increase over 24 hours, lifting its weekly performance into positive territory.
Although XRP’s monthly performance still reflects a modest decline, analysts note that reclaiming and holding above $2 could represent an important shift in momentum.
Establishing this area as support is viewed as a prerequisite for any sustained upside movement. As a result, some market observers believe the recent breakout could signal the early stages of a broader trend continuation.
It’s true $XRP https://t.co/qDj7Q9HWQq
— The Great Mattsby (@matthughes13) January 2, 2026
Long-Term Technical Structure Remains Constructive
According to Charting Guy’s analysis, XRP has been developing within a large-scale bullish framework that began forming several years ago. Rather than experiencing prolonged breakdowns after major rallies, the asset has tended to enter extended consolidation periods. These phases, which often last many months, have historically preceded significant upward expansions.
Past market behavior suggests a recurring pattern in which XRP consolidates following major price advances before resuming its upward trajectory. One notable example occurred in late 2024, when XRP broke out after a prolonged range and surged into early 2025. That rally carried the price beyond $3 before peaking near $3.66 later in the year.
While a substantial correction followed, analysts argue that such pullbacks are consistent with previous cycles and do not necessarily invalidate the broader trend. Instead, they view the recent stabilization as part of a reset phase ahead of another potential advance.
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Rationale Behind the $8 Projection
The $8 target remains central to Charting Guy’s thesis due to several overlapping technical considerations. These include historical price symmetry, measured move projections, and Fibonacci extension levels observed on higher timeframes. In particular, the $8 area corresponds with a key extension level that has previously aligned with major market tops during earlier cycles.
Supporters of this viewpoint point to XRP’s past rallies, which have often unfolded in sharp, multi-week advances separated by periods of consolidation. From current levels, a move to $8 would represent a rise of just under 300%, a scale that proponents argue is consistent with XRP’s historical volatility during strong market phases.
Broader Analyst Consensus and Market Commentary
Hughes’ public agreement with the $8 projection has added visibility to the forecast. While he did not expand extensively on the timeline, his endorsement signals alignment among analysts who believe XRP’s current structure supports further upside.
Other market participants have floated higher targets, including levels above $10 or even $20. Charting Guy has acknowledged these possibilities but has clarified that his primary focus remains on the $8 level as the next major objective.
He has stated that higher prices cannot be ruled out over longer horizons but require confirmation through sustained market strength.
Speculation has also emerged around potential timelines, with some observers suggesting XRP could approach $8 by mid-year if broader market conditions, including Bitcoin’s performance, remain favorable. Analysts, however, caution that such outcomes depend on multiple variables and should not be viewed as guarantees.
While opinions differ on how quickly XRP could advance, a growing number of analysts agree that the asset’s technical structure continues to support higher price levels. The persistence of the $8 target reflects confidence rooted in long-term chart analysis rather than short-term market reactions.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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