Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
XRP is once again hanging around the $3 mark, but the latest move looks shaky as Bollinger Bands show the rally slowing down.
After bouncing from late-August lows near $2.70, XRP's price climbed back toward $3.10-$3.20, but the price failed to hold above the upper band near $3.14, which often signals that bull momentum is fading and a slip back toward the mid-band around $2.90 could follow.
XRP is trading at around $3.09 on the daily chart. It is caught between the top of the bands and the middle line, and usually when this happens without a clear breakout, the market tends to drift lower before buyers step in again. Watch the $2.80-$2.90 zone if things start to heat up.
The weekly chart is looking more stable, but still a bit nervous, as XRP is holding its 20-week average around $2.64, although it hasn't quite reached the higher $3.52 band yet. It's clear there is space to run, but unless it closes firmly over $3.20, there's no guarantee it won't roll back down.
Bottom line
Shorter-term charts are already softening, as XRP pulled back from just under $3.20 to test the $3.05 area, with the lower four-hour band now rising toward $2.97. If that floor cracks, the warning of another dip under $3 gets stronger.
The story here is simple: XRP needs to turn $3 into solid support, and until that happens, the risk of sliding into the $2s is still on the table, making this week’s closes crucial for whether bulls keep control or momentum fades away.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team