The XRP shows signs that it can be gearing up for a major move against Bitcoin, with technical indicators pointing to a possible 30% breakout. The XRP/BTC trading pair traces the sides on a tight range, and the setup is now getting the attention of entrepreneurs watching for the next major move.
Bollinger bands, a tool that is often used to monitor volatility, are tightly tight on the XRP/BTC chart. This type of squeeze usually suggests that a breakout can be just around the way. So far, the XRP has been walking around 0.00002292 BTC, but the upper band is sitting higher, close to 0.00003079 BTC – a level to mark a 30% gain when reaching.
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After a stretch of solid upward candles, the XRP is cooled, moving almost flat in the last few sessions. That may sound uneven, but in crypto markets, sideways actions like these often set the stage for larger motion. With the momentum still quite intact and supporting support, the prefunction seems to be constructive.
While there is no confirmation, a clean move beyond the upper range can bring new purchase pressure to the pair. If that happens, the XRP can catch a fresh wave of interest, especially from traders rotating in more pairs of motion.
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The sentiment in the market remains careful in general, but technical patterns like this tend to stand. The bollinger band squeeze does not often occur, and when it is, it usually leads to rapid movement – in either direction. So far, the path of at least resistance appears upward.
All eyes will be if the XRP can break clean from this integration. If this is, the score of 0.00003079 BTC becomes an immediate level to watch.
