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CryptoXTimes > Article > News > XRP’s Volatility Drop Sparks Speculation Of Another 60,000% Surge
NewsCrypto

XRP’s Volatility Drop Sparks Speculation Of Another 60,000% Surge

XRP’s Low Volatility Fuels Speculation of 60,000% Surge

Sana Bukhari
Last updated: July 30, 2024 2:52 pm
Sana Bukhari 10 months ago
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XRP’s Volatility Drop Sparks Speculation Of Another 60,000% Surge

XRP is going through an interesting repeat of things before its big price jump of 60,000% in late 2017 and early 2018. There has been less monthly instability than ever before. This makes people in the market wonder if there will be another big rise.

The Bollinger Band Width (BBW) for Ripple fell to a new low in July on the monthly chart. This means that XRP/USD would trade in small bands for a while. A big change may come soon since price changes have slowed down.

 Records show that times of low volatility often happen before big price jumps. For example, XRP had a tight BBW from 2016 to 2017 before its price increased by an amazing 66,000%.

XRP’s volatility is at an all-time low. This means that the period of stabilization is even longer than it was in 2016 and 2017. These past patterns help analysts like Tony Severino guess when a breakout might happen.

$XRP monthly Bollinger Bands are the tightest ever

Tighter than before the historic 60,000% rally that ended in early 2018 pic.twitter.com/OFTTkcDxDU

— Tony "The Bull" Severino, CMT (@tonythebullBTC) July 30, 2024

Currently, XRP costs about $0.62, which is close to the middle of the Bollinger Band. This means there isn’t a strong reason to buy or sell on the market. The relative strength index (RSI) for March is around 53, which means people are neither hopeful nor pessimistic.

XRP’s Bullish Signals And Potential For Future Price Surge

However, the fact that Ripple is trading above the middle Bollinger Band makes the price more likely to increase. As the Bollinger Bandwidth continues to get smaller, more and more people think that the price will change a lot.

There is also a big triangle on the XRP chart with two equal sides. This could mean that the price will keep going up. The next price goal could be $14.75, which is 2,200% more than the current price.

Many important things could affect an XRP rally, like how the SEC vs. Ripple lawsuit turns out and whether or not people in the U.S. will have better crypto rules if Trump wins another election.

The rise won’t happen right away. Around August 2025, the triangle should come together in a way that makes sense. If there is a big break below the lower trendline, it could hurt the long-term good picture for XRP.

While the market waits for more information, technical and underlying signs for XRP point to another big price jump, it would be like what has happened before, but with a watchful eye on what might happen next.

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TAGGED: Tony Severino, USD, XRP
By Sana Bukhari
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Sana Ali is a crypto guru who writes helpful articles that reveal complicated ideas in a way that many people can understand. She knows much about blockchain's basic ideas and how it works.
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