After a prolonged period of sideways chop and fading momentum, the third biggest cryptocurrency, XRP, seems to be gearing up for its next major move. Now, with a rejection at the upper Bollinger Band, traders are asking: is XRP price about to explode or retrace?
Last night's cooldown on the crypto market smacked XRP down right at the $2.27 resistance — the upper limit of the Bollinger Band. While that might signal cooling momentum, it is also exactly the kind of setup experienced traders have been waiting for.
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As of now, XRP trades near $2.13, with the mid-band represented by a 20-day simple moving average at $2.06 acting as a make-or-break level in the coming sessions.
Source: TradingView
This rejection could go two ways. A bounce off the mid-band could reignite bullish fire, putting $2.27 back in sight — and if that breaks, the next psychological target at $2.70 is back on the radar. On the flip side, a decisive fall below the lower band near $1.86 might usher in a deeper correction, potentially dragging XRP into the $1.70 zone.
Technical analysts like DonAlt, who famously caught the XRP rally from $0.50 to $3.40 late last year, remain cautiously optimistic.
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In a market where the narrative is everything, XRP is once again writing its own. No matter what happens, one thing is for sure: XRP is anything but boring. Will the altcoin bounce back, or is this just a brief setback? Traders should buckle up.
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