Analysts Says Its True XRP Still Heading to $8

Matt Hughes, also known as The Great Mattsby, has predicted an ambitious price outlook for XRP amid an ongoing price breakout.

In his latest commentary, he expressed agreement with an analysis by market watcher Charting Guy, who stated that XRP is still headed to $8, regardless of short-term market noise.

This renewed conviction comes as XRP engineers a breakout and reclaims the $2 psychological level for the first time in 2026, after originally losing the region on December 15.

XRP Latest Breakout

At press time, XRP is trading at $2.05, its highest price so far this year, following an 8% surge in the last 24 hours. This upside move has improved its weekly performance to a 10% gain, although the monthly chart still shows a 6.70% dip.

With XRP looking to establish new support above the $2 level, these analysts are now calling for a new all-time high.

Notably, Charting Guy has been calling for an $8 price and higher for XRP since 2024, based on technical formations on the chart. While the target has remained distant, he continues to maintain this outlook.

Multi-Year Structure Favoring Higher XRP Prices

According to the technical setup, XRP has been moving within a broader multi-year bullish structure that began forming in 2023. Rather than breaking down after major rallies, XRP has consistently entered extended sideways ranges, which serve as accumulation phases.

The chart highlights repeated consolidation periods lasting close to a year before each major breakout. Each of these phases eventually resolved to the upside, producing strong impulsive moves that pushed XRP into new price zones.

The most notable example so far was the late-2024 breakout that saw XRP reach $3.34 in January 2025 and later $3.66 in July 2025. For context, XRP’s price upsurge during this period was approximately 600%. While a 50% correction followed, the prevailing view is that the uptrend is now due to resume.

XRP chart by analyst Charting Guy

Why the $8 Target Remains Unchanged

The projected move toward $8 aligns with historical price behavior, Fibonacci extensions, and the completion of the current impulsive wave structure shown on the chart.

For instance, XRP surged from $0.49 to $3.34 in just ten weeks. While the rally briefly cooled off, continuation followed about six months later.

Charting Guy expects XRP to repeat this historical move. From the current level of $2.05 to $8, the asset would need to rise by approximately 290%. Notably, the $8 target aligns with the 1.272 Fibonacci level on the weekly chart.

This technical backdrop explains why Charting Guy maintains his price outlook despite largely bearish and cautious market sentiment.

Other Analysts Agree

Interestingly, some analysts have agreed with Charting Guy’s outlook. In a tweet, Matt Hughes remarked, “It’s true” in response to the prediction, signaling his agreement.

Other commenters have suggested even higher price levels, such as $20. In response, Charting Guy said such a move could happen. While he does not believe XRP is currently heading to $20, he noted that the price outlook is “entirely possible.”

Meanwhile, one X user suggested XRP could reach $8 by July. He added that Bitcoin’s price could be around $200,000 by that time. “Let’s see,” Hughes remarked in reply.

Lets see

— The Great Mattsby (@matthughes13) January 2, 2026