Bollinger rejection or willbetsweet bonanza 1000bear trap? Next XRP move could be massive Advertisement Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
After a prolonged period of sideways chop and fading momentum, the third biggest cryptocurrency, XRP, seems to be gearing up for its next major move. Now, with a rejection at the upper Bollinger Band, traders are asking: is XRP price about to explode or retrace?
AdvertisementLast night's cooldown on the crypto market smacked XRP down right at the $2.27 resistance — the upper limit of the Bollinger Band. While that might signal cooling momentum, it is also exactly the kind of setup experienced traders have been waiting for.
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As of now, XRP trades near $2.13, with the mid-band represented by a 20-day simple moving average at $2.06 acting as a make-or-break level in the coming sessions.
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This rejection could go two ways. A bounce off the mid-band could reignite bullish fire, putting $2.27 back in sight — and if that breaks, the next psychological target at $2.70 is back on the radar. On the flip side, a decisive fall below the lower band near $1.86 might usher in a deeper correction, potentially dragging XRP into the $1.70 zone.
Technical analysts like DonAlt, who famously caught the XRP rally from $0.50 to $3.40 late last year, remain cautiously optimistic.
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In a market where the narrative is everything, XRP is once again writing its own. No matter what happens, one thing is for sure: XRP is anything but boring. Will the altcoin bounce back, or is this just a brief setback? Traders should buckle up.