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🚨 XRP at a Crossroads!
💥 The XRP currency is facing a contraction in the Bollinger Bands indicator – what does that mean?
XRP is showing important technical signals as the Bollinger Bands lines narrow on the daily chart, which could pave the way for a significant price move soon.
🔹 The middle range of the Bollinger indicator is at $2.19, currently considered a balance line between the upward and downward trends.
🔹 In the last seven days, the price has fluctuated around this level, with a failed breakout reaching $2.32.
🔹 The lower limit of the indicator is at $2.08, which has often been a rebound point for the price in previous attempts.
📊 If the range narrows further, volatility may temporarily decrease, but historically, this contraction often precedes a major price explosion.
📈 The price at the time of publication reached $2.15, up 0.9% over 24 hours, having rebounded from $2.12 earlier in the session.
🎯 Important levels to watch:
Key Resistance: $2.23 (has seen rejection several times over the past month).
Potential Support: $2.10 — breaking this could lead to a broader decline.
Trading Volume: currently low by -22.43%, but any increase could push the price to test $2.50.
📌 Over 79% of XRP holders are currently in profit, which may alleviate selling pressure and support a potential rebound as the Bollinger explosion approaches.
