Rally

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According to CoinChartist founder Tony Severino, XRP's monthly Bollinger Bands are t<a href="https://x.com/tonythebullBTC/status/1818074790407848236" rel="noopener noreferrer nofollow">he tightest they have ever been</a>.&nbsp;&nbsp;
In fact, they are tighter than before the groundbreaking 60,000% rally that the XRP price that ended in 2018.&nbsp;&nbsp;
Bollinger Bands are a widely used momentum indicator that adjusts to market volatility.&nbsp;&nbsp;
In this particular case, a shrinking gap between the upper and lower bands means that XRP is experiencing relatively low volatility. It is worth noting that a period of extremely low volatility is typically followed by a squeeze.&nbsp;&nbsp;&nbsp;
XRP bulls are now hopeful that such an extraordinarily rare level of low volatility could potentially indicate a significant price spike.&nbsp;
As&nbsp;<a href="https://u.today/legendary-trader-john-bollinger-says-bitcoin-btc-squeeze-is-imminent" rel="noopener noreferrer nofollow">reported by U.Today</a>, John Bollinger, the founder of the popular indicator, wrote that the largest cryptocurrency was on the verge of a squeeze last August. Since then, Bitcoin rallied roughly 187%, eventually peaking this March.&nbsp;
According to CoinGecko data, the XRP price is currently changing hands at $0.5988, which makes it the sixth biggest cryptocurrency by market capitalization. XRP is down 1.5%, which is in line with the broader market. Bitcoin, for instance, is down more than 4%.&nbsp;
XRP could experience more volatility due to new developments in the closely watched SEC v. Ripple case.&nbsp;
As&nbsp;<a href="https://u.today/ripple-ceo-legal-battle-with-sec-will-be-over-very-soon" rel="noopener noreferrer nofollow">reported by U.Today</a>, Ripple CEO Brad Garlinghouse recently stopped short of sharing any information about settlement talks. However, he did mention that the resolution of the pivotal case was on the horizon.&nbsp;
XRP is still down 82% from its record high that was achieved in 2018, which makes it one of the worst-performing coins.&nbsp;

Last Time This Happened, XRP Price Saw 60,000% Rally

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Andre artikler udgivet 30. jul. 2024

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