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    Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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XRP Set To Outpace Bitcoin as Bollinger Bands Tighten

  • currency-symbol XRP $ 2.14 (-2.41%) top looser
Story Highlights
  • XRP/BTC Bollinger Bands tighten, signaling a potential 30% breakout that could outpace Bitcoin.

  • Analyst forecasts XRPโ€™s 5th wave could push price to $6.3, with key support at $1.88 and resistance at $2.22 and $2.36.

XRP is getting ready for a big move that could outpace Bitcoin. Brett Crypto recently shared that the Bollinger Bands on the XRP/BTC chart have tightened, which usually signals a breakout. Experts hint that this move could push XRP up over 30% compared to Bitcoin. Traders closely watch for the bullish signs.

Source : Brett_Crypto_X Psot

This is a rare phenomenon, and not a regular event. Additionally, XRPโ€™s recent consolidation and its solid support levels further makes the breakout more likely. 

If XRP breaks the resistance at 0.00003079 BTC, it could spark buying pressure and lead to a market recovery. However, if it fails to break out, a steep decline could follow.

According to data from CoinPedia Markets, XRP is currently trading at $2.15, down 1.65% in the past 24 hours. Over the past day, its volume has surged over 26% to $1.97 billion, with over $1.87 billion traded on the open market.ย 

Analysts Eye Bigger Targets

Previously, analyst Dark Defender had predicted that XRP would face resistance around $2.22 and $2.36 and as expected, it dropped to $2.13 yesterday. He believes that XRP is nearing the end of its correction phase and could soon start rising.

XRP is entering its 5th Monthly Wave, which is expected to unfold in 5 smaller sub-waves. He expects the initial wave to reach $3. Moving ahead with Wave 3 and Wave 5, he has higher short-term targets of $4.4 and $6.3, with support at $1.88.

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FAQs

Is XRP about to break out against Bitcoin?

Yes, tightening Bollinger Bands on the XRP/BTC chart suggest a possible 30% breakout is approaching.

What XRP price move is predicted against Bitcoin?

Analysts suggest XRP could surge over 30% against Bitcoin if it breaks the 0.00003079 BTC resistance level.

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