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Despite all of the roller coaster action of recent days, XRP is still looking strong, with the price staying close to the upper end of its Bollinger Bands - a rare technical indicator that traders know is worth paying attention to.
After bouncing around in the $1.90 range earlier this month, XRP has consistently climbed, recently closing above the key $2.20 level. This move is not just for show; it puts XRP right in the bullish zone of its Bollinger Band setup. The price has been holding strong above the mid-band (20-day SMA), with buyers stepping in repeatedly before it hits lower support.
What does this say about XRP? When the price stays in the upper half of the Bollinger Bands without spiking too hard, it usually means the move has solid momentum and steady buying pressure behind it.
Right now, the $2.16 level, which is also the middle of the bands, is acting as support, while the upper band near $2.30 is now the nearest resistance.
Looking at the big picture, it seems that the $2-$2.20 zone has flipped from being a resistance point to a support point, which is a pretty significant change in technical terms. When you add that to the tightening Bollinger Band squeeze we had earlier in the month, you have a classic breakout-and-hold scenario.
The takeaway? Momentum favors the bulls - not in explosive form, but with the kind of technical discipline that often precedes the next leg up.
Vladislav Sopov