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Have Fun With A Quiz in Gate Chat Group & Unlock Big Rewards!
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XRP prices may fall to $1, just like in 2018.
Bollinger Band signal
After a substantial increase of nearly 500% in the past few weeks, the price of the third largest cryptocurrency XRP seems to be finding its local ceiling. While in line with the broader cryptocurrency market performance, XRP may not stop there for correction, and eventually find a recent downtrend point well below the current level of 2.26 US dollars.
In particular, the Bollinger Bands provide an indication of this development. A popular indicator developed by John Bollinger consists of a simple moving average line and two deviations above and below the sacred line, which together form a range. Currently, the price of XRP is exactly on the upper band, with a median of $1.
The distance is great. The last time something similar happened was in 2021, and the price eventually reached the median in the following weeks. However, the recent situation is more similar to what XRP enthusiasts saw in 2018.
At that time, the price of this popular cryptocurrency was $3.3, which was actually the all-time high for XRP, with a median of $0.72.