Historical XRP Price Pattern Suggests Major Ripple Bull Run: Details

Ripple’s XRP has declined by 7% in the last 30 days, almost in line with the rest of the market.

Currently trading at $0.45, the price managed to recover the important $0.40 level after falling below during the market-wide bloodbath on July 5th.

Now, a popular technical indicator used by many analysts to predict incoming spikes in value appears to be flashing at levels not seen since XRP was trading around $0.006.

The XRP price indicator is flashing again

The indicator in question is named after John Bollinger and is known as Bollinger Bands. It was created to meet the need for adaptive trading bands that observe the dynamics of volatility.

Bollinger bands represent envelopes represented at a standard deviation level above and below a simple moving average of price, which is why they adjust for changes in volatility. The tighter the bands tighten, the lower the volatility. This is usually a precursor to violent movement, albeit in any direction.

That said, one X user noted that:

XRP has one of the tightest monthly Bollinger Band pressures in its history and in all of crypto right now. The last time it tightened like this, it shot up 60,000%.

Source: X

A 60,000% increase would put the price of XRP at $270 per coin. This would also put XRP’s fully diluted valuation at around $27,173,196,123,498. That’s $27 trillion, which is roughly 13 times the current market cap of the entire industry.

Other outrageous XRP price predictions

Needless to say, others have also made incredibly optimistic XRP price predictions, although not many of them are as outrageous as this one.

For example, in early July, a few analysts predicted future earnings of $17 and $9.50. While both of these numbers represent huge increases, they seem much more likely compared to a 60,000% increase.

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