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Bollinger Bands Tighten On XRP Daily Chart – Major Price Move Ahead? Newsbtc 2 tygodnie temu

Bollinger Bands Tighten On XRP Daily Chart – Major Price Move Ahead? 💹

Ethereum Solana XRP Cardano

XRP is experiencing significant volatility, with a recent price drop to new local lows around $2.65. This downturn comes amid a tightening of the Bollinger Bands, a technical indicator suggesting potential major price moves. Despite the dip, the long-term outlook for XRP remains positive, but investors should be vigilant.

Analyst Ali Martinez notes that the Bollinger Bands on XRP's daily chart foreshadowed this decline. While some believe this is a temporary setback in a broader bullish trend, others warn of further decline if selling pressure continues. The market's mood is mixed, with some viewing this as an accumulation opportunity.

XRP's resilience is evident as it trades around $2.76 after recovering 5% from the recent drop. For a bullish reversal, maintaining a price above $2.80 is crucial. A strong defense of this level may set the stage for a broader market recovery.

Źródło: www.newsbtc.com ↗

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