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XRP's Rally Against Bitcoin May Stall: What Bollinger Bands Indicate

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by Giorgi Kostiuk

5 hours ago

The popular cryptocurrency XRP may be experiencing a pause in its rally against Bitcoin. Bollinger Bands revealed that XRP was unable to surpass the middle band at 0.00002685 BTC.

Recent XRP Surge

XRP recently surged by 9% against Bitcoin over the past two days but encountered resistance at the middle Bollinger Band. This might signal a pause in its outperformance over BTC.

Bollinger Bands: A Quick Introduction

Bollinger Bands are a technical analysis tool developed by trader John Bollinger. They consist of three price curves. The middle one is a 23-day moving average, while the others represent deviations from it.

What Does This Mean for XRP?

If XRP closes the daily candle below the middle band, it might retest the lower band, translating to around 0.0000241 BTC, approximately 9.48% below its current level.

Observations of XRP's movement against Bitcoin suggest the market is on hold. Watch closely for further developments.

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