XRP Could Soar 712% to $4 Amid Historic Tight Bollinger Bands
- An analyst observed tight Bollinger Bands on XRP charts reminiscent of 2017.
- XRP soared about 76,700% to an ATH of $3.84 after the 2017 observation.
- Accordingly, the analyst expects XRP to drop to $0 or soar to a new ATH above $4.
Crypto analyst by the pseudonym Charting Guy has called attention to a newly formed pattern on the XRP chart that suggests a bullish history may be about to repeat itself. In a recent post on X, the analyst disclosed that XRP’s monthly Bollinger Bands (BBs) have hit a historic milestone, with a bandwidth of 0.70. According to the analyst, this marks the tightest width observed since its peak at 0.73 back in 2017.
$XRP monthly bollinger bands are now the tightest they’ve ever been in history
— Charting Guy (@ChartingGuy) April 17, 2024
0.70 for the width
the tightest it got before this was 0.73 in 2017.. 1 month before
probably nothing.. pic.twitter.com/SDk8Q2jj3F
Notably, Bollinger Bands are a technical analysis tool used to measure volatility. They consist of a moving average line and two standard deviation lines, forming a band around the price. The analyst noted that the narrow bandwidth for XRP observed in 2017 occurred…
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