CandleFocus Two Traders Spot Imminent Big Move for XRP Based on Bollinger Bands with Potential Explosion of 71,381%
2024-10-25
Author: Content Editor
Two analysts have predicted that XRP, the cryptocurrency associated with Ripple, is on the verge of a significant price explosion. They point to a historical pattern in which XRP gets squeezed between the Bollinger Bands, which has happened only twice before and preceded significant price increases. In 2017, XRP saw a growth of 71,381%, while in 2020 it gained 1,602% after similar Bollinger Bands tightening. These analysts believe that XRP's recent suppressed growth may be attributed to the SEC lawsuit against Ripple, which has now concluded. If XRP were to experience a similar price surge, it could potentially reach a price of $375 and a market cap of $21.3 trillion. However, some analysts are skeptical of such a massive rally happening.
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