A popular volatility indicator has flashed at historic lows, suggesting incoming volatility for XRP.
Ripple’s XRP has declined by 7% in the past 30 days – pretty much in line with the rest of the market.
Currently trading at $0.45, the price managed to reclaim the important $0.40 level after tumbling below it during the market-wide bloodbath on July 5th.
Now, it appears that a popular technical indicator used by many analysts to predict incoming value spikes is flashing at levels not seen since XRP was trading at around $0.006.
XRP Price Indicator Flashes Again
The indicator in question is named after John Bollinger and is known as the Bollinger Bands. It was created to meet the need for adaptive trading bands that observe the dynamic of volatility.
The Bollinger Bands represent envelopes plotted at a standard deviation level above and below a simple moving average of the price, which is why they adjust to volatility swings. The tighter the bands are squeezed together, the lower the volatility. This is usually a precursor to a violent move, albeit in either direction.
That said, a user on X noted that:
XRP has one of the tightest monthly Bollinger Band squeezes in its history and in all of crypto right now. The last time it squeezed like that, it shot up 60,000%.
An increase of 60,000% would put XRP’s price at a whopping $270 per coin. This would also put XRP’s fully diluted valuation at around $27,173,196,123,498. This is $27 trillion, which is approximately 13 times greater than the current market capitalization of the entire industry.
Other Outrageous XRP Price Predictions
Needless to say, others have also made incredibly optimistic XRP price predictions, although not a lot of them are as outrageous as this one.
For example, earlier in July, a few analysts predicted future gains to the tune of $17 and $9.50. While both these numbers represent tremendous increases, they do seem a lot more probable compared to a 60,000% increase.
Source: www.cryptopotato.com