The recognized expert The Great Mattsby recently highlighted that the price of XRP shows a re-expansion of the monthly Bollinger Bands, a pattern last observed before its historic surge in 2017. At that time, XRP skyrocketed an additional 1,300% during the breakout. Mattsby's graphical analysis, based on the Gann chart, places this possible movement at approximately $45 per XRP.
Despite its past challenges, the price momentum of XRP has been undeniable. At the time of this writing, XRP is trading at $3.56 with a market capitalization exceeding $207 billion, an increase of more than 63% in the last month. This also coincides with the growing activity in the XRP Ledger.
"Activity on XRPL is growing rapidly. Daily active addresses have multiplied sevenfold, and transaction volume has reached record levels. XRPL currently has over 29,000 active addresses and more than 10,000 unique operators."
Other data shows that daily transactions surpassed 830,000. The trading of meme coins also generated a volume of $6.25 million. The activity of stablecoins remains stable at around $5.6 million, while the total volume on XRPL's decentralized exchanges (DEX) surpassed $12 million, demonstrating good liquidity.
As XRPL transitions from payments to smart contracts and stablecoin remittances, experts believe that the price of XRP could be on the verge of a significant increase.
