XRP Bollinger Bands Compress as Bulls Aim for $2.55
Cointelegraph
XRP's Bollinger Bands are tightening, suggesting an imminent, significant price breakout targeting $2.55.Summary
XRP's price is showing signs of an impending upward breakout, evidenced by its Bollinger Bands tightening to an eight-month low, signaling reduced volatility before a major move. Analysts suggest a daily close above $1.50 could confirm momentum. Furthermore, XRP is forming a bullish falling wedge pattern on the weekly chart, with the Relative Strength Index (RSI) rebounding from oversold territory. A confirmed break above this wedge could propel XRP toward a target of $2.55. Supporting this bullish outlook is the continuous decline in XRP supply held on exchanges, indicating accumulation by long-term holders and reduced sell-side pressure, despite recent outflows from spot XRP ETFs.
(Source：Cointelegraph)