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XRP Could Soar 712% to $4 Amid Historic Tight Bollinger Bands

Published 04/19/2024, 04:45 AM
XRP Could Soar 712% to $4 Amid Historic Tight Bollinger Bands

  • An analyst observed tight Bollinger Bands on XRP charts reminiscent of 2017.

  • XRP soared about 76,700% to an ATH of $3.84 after the 2017 observation.

  • Accordingly, the analyst expects XRP to drop to $0 or soar to a new ATH above $4.

Crypto analyst by the pseudonym Charting Guy has called attention to a newly formed pattern on the XRP chart that suggests a bullish history may be about to repeat itself. In a recent post on X, the analyst disclosed that XRP’s monthly Bollinger Bands (BBs) have hit a historic milestone, with a bandwidth of 0.70. According to the analyst, this marks the tightest width observed since its peak at 0.73 back in 2017.

Notably, Bollinger Bands are a technical analysis tool used to measure volatility. They consist of a moving average line and two standard deviation lines, forming a band around the price. The analyst noted that the narrow bandwidth for XRP observed in 2017 occurred…

The post XRP Could Soar 712% to $4 Amid Historic Tight Bollinger Bands appeared first on Coin Edition.

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