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It looks like XRP might be gearing up for a big price move as the Bollinger Bands are showing signs that have usually conveyed an upward shift in the cryptocurrency's valuation. This time, they are pointing toward the $2.50 level, which would be a 27% move from its current trading range.
The daily chart has recently shown the price rebounding from just below $1.80, following a period of steady decline that stretched over several weeks. What is catching attention now is how tight the Bollinger Bands were before this bounce. This is a technical sign that is often seen as a buildup of volatility waiting to happen.
Arman ShirinyanNow that the bands have started to widen a bit and the price is moving up toward the midband area near $2.10, it is possible that the price could keep climbing.
Right now, XRP is trading around $1.98, hovering near the mid-range support and resistance zone between $1.90 and $2.10. This price range has been a kind of floor and ceiling for a while now. The next short-term hurdle is expected to be around $2.20, but the upper Bollinger Band, which is now around $2.50, could offer a technical ceiling for this rally.
Volume has picked up a bit, especially during the most recent upward candles. While it is not explosive, this increase does offer some support for a shift in short-term sentiment.
Alex DovbnyaThe broader market context is still cautious, and XRP's movement will likely continue to mirror broader risk appetite unless there is a catalyst from either macroeconomic or geopolitics.
The Bollinger Bands signal is one of the clearer directional hints on the chart. We do not know if XRP will follow through on this setup, but technically, the path toward $2.50 is open.
Vladislav Sopov
Dan Burgin