2024

CRYPTO

Gary

Steph Is Crypto (@Steph_iscrypto), a well-known crypto analyst, recently <a href="https://x.com/Steph_iscrypto/status/1869412308448924005?t=n4tIR-SRHDLDrgtXTzRp6g&amp;s=19">highlighted</a> a significant development in XRP’s technical setup, pointing to an extreme tightening of its Bollinger Bands on the 12-hour chart. 
The chart shared by Steph has sparked speculation about the possibility of a substantial price move. This event also occurred following the digital asset’s 490% surge from around $0.5 in November to over $2.41. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> 12H Bollinger Bands squeezing tight again. Last time this happened, we saw a 490% explosion. 
 History doesn't repeat, but it rhymes <a href="https://t.co/fZk4eBltSS">pic.twitter.com/fZk4eBltSS</a> 
 — STEPH IS CRYPTO (@Steph_iscrypto) <a href="https://twitter.com/Steph_iscrypto/status/1869412308448924005?ref_src=twsrc%5Etfw">December 18, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
This surge also coincided with the news that Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC) would be <a href="https://timestabloid.com/xrp-price-spikes-as-sec-chair-gensler-officially-announces-resignation-date/">leaving his position</a> in January. However, Steph believes the asset’s Bollinger Bands played a crucial role in this performance. 
<h2 id="strong-will-history-rhyme-for-xrp-strong">Will History Rhyme for XRP?</h2> 
Bollinger Bands are a widely used technical indicator to measure market volatility and identify overbought or oversold conditions. When the bands narrow, it indicates a period of low volatility, often preceding a significant price movement. 
Steph’s chart shows that the XRP’s surge from November began after a tightening of its Bollinger Bands. The bands are now close to this level again, and Steph noted, “History doesn’t repeat, but it rhymes.” This suggests the asset could experience a similar surge, or even outperform the 490% increase. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 We are on twitter, follow us to connect with us :- <a href="https://twitter.com/TimesTabloid1?ref_src=twsrc%5Etfw">@TimesTabloid1</a> 
 — TimesTabloid (@TimesTabloid1) <a href="https://twitter.com/TimesTabloid1/status/1680250907504656385?ref_src=twsrc%5Etfw">July 15, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="strong-renewed-interest-in-xrp-strong">Renewed Interest in XRP</h2> 
This development comes amid a broader context of increasing institutional interest in XRP and the cryptocurrency market as a whole. Ripple recently <a href="https://timestabloid.com/ripples-rlusd-is-now-trading-globally-heres-where-you-can-buy/">launched RLUSD</a>, its stablecoin, causing a significant resurgence in attention, and experts believe adoption will rapidly increase. 
Market participants are also closely watching other factors and Bitcoin’s price performance, which often influence altcoin markets, including XRP. Any major movements in these areas could impact the unfolding of this technical setup. 
While technical patterns do not guarantee outcomes, historical precedents suggest that similar setups often lead to sharp increases. The digital asset is currently trading at $2.33, and a 420% surge from this level would send it to $12.1, pushing the asset into double-digit territory. 
XRP’s Bollinger Bands hit the <a href="https://timestabloid.com/analyst-sets-600x-rally-target-as-xrp-shows-tightest-bollinger-bands-in-history/">tightest point in history</a> a few months ago, and analysts showed how this could lead to a repeat of the 2017 rally. The current setup presents an intriguing opportunity for investors, and with the Bands tightening again, the sky seems to be the limit for XRP. 
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. 
Follow us on <a href="https://twitter.com/TimesTabloid1">Twitter</a>, <a href="https://www.facebook.com/timestabloid/">Facebook</a>, <a href="https://t.me/markettabloid">Telegram</a>, and <a href="https://news.google.com/publications/CAAqLAgKIiZDQklTRmdnTWFoSUtFSFJwYldWemRHRmliRzlwWkM1amIyMG9BQVAB?hl=en-US&amp;gl=US&amp;ceid=US%3Aen">Google News</a> 
The post <a href="https://timestabloid.com/analyst-says-xrp-could-repeat-bullish-history-after-spotting-this/">Analyst Says XRP Could Repeat Bullish History After Spotting This</a> appeared first on <a href="https://timestabloid.com">Times Tabloid</a>.

Analyst Says XRP Could Repeat Bullish History After Spotting This

Table of Contents

Times Tabloid

Other articles published on Dec 19, 2024

Will MicroStrategy Halt Bitcoin Purchases Amid Blackout Period?

Pioneering a Metaverse for Good: Smobler Leads in Ethical Tech and Educational Gaming

XRP Price May Rally To $4, Analyst Projects Amid Ripple Stablecoin Launch

10% of Ethereum validators signal gas limit increase

io.net Joins Dell Technologies Partner Program as Authorized Partner and Cloud Service Provider (...

Bitcoin price has legs above $100K despite holders booking record profits — Analysis

Join our free newsletter for daily crypto updates!