Crypto analyst Matt “The Great 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 massive moves to the upside, having consolidated for quite a while.

XRP Price Could Replicate 60,000% Price Gain

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

XRP’s mirroring of its 2017 price gain, when it rose by over 60,000%, will undoubtedly propel the crypto token to such heights. Interestingly, crypto analyst Crypto Bitlord also recently predicted that XRP could make such massive gains, asserting that the crypto token rising to as high as $589 is possible.

Meanwhile, Hughes joins several crypto analysts, like Mikybull Crypto, who have suggested that XRP could replicate its 2017 performance. Mikybull Crypto stated that XRP’s current price action suggests that it might 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 Defender and Javon Marks made more bullish price predictions, suggesting that XRP recapturing its 2017 price gains was on the cards. Dark Defender predicted that the crypto token could rise to as high as $18 when this happens. Meanwhile, like Hughes’ prediction, Marks predicted that XRP could witness a 39,000% rally and rise to $200.

“Something Big” Is Brewing

In a recent X post, Mikybull Crypto mentioned 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 kind 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 mentioned that XRP is “absolutely” going to $20. He added that the recent explosive breakout above the upper Bolliger Band confirms such a parabolic move. He reaffirmed that XRP rising to $20 is not a question of if but when it will happen. Pantejo advised market participants to get ready 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.