XRP Price Alert: Bollinger Bands Warn of Potential Losses While this Altcoin Eyes a 22,000% Run
The XRP price surged over 22.99% last week, reaching a seven-year high of $3.4, marking a 35% rise in just six days. Despite this impressive rally, analysts see signs that the bullish momentum may soon wane.
XRP price movement has diverged from broader market trends, fueling speculation about its sustainability. Bollinger Bands, a key technical indicator, suggests XRP may be overbought. This tool, created by John Bollinger, highlights price ranges and potential ceilings, signaling caution as traders evaluate whether the rally has peaked.
While the XRP price faces potential losses, a rising rival, PropiChain, is eyeing the market lead and promising a 22,000% bull run. So, what’s causing these movements?
Will History Repeat for XRP Price?
The XRP price currently hovers around $3.10, consolidating after a recent rally. Analysts, including Steph, observe a Bollinger Bands squeeze on the 12-hour chart, signaling a possible breakout.
XRP price recently dipped to $2.93, nearing the $2 psychological threshold, yet tightening bands indicate traders anticipate a major move.
A repeat of XRP’s previous 490% surge could propel the XRP price to $13.3. However, analysts adopt cautious short-term targets, projecting a rally to $4–$5 before another correction, keeping the outlook for XRP both intriguing and tempered.