The post Here’s What Bollinger Bands Show appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Since the beginning of November, the price of XRP has risen over 220% at its peak, and the token itself has become extremely popular and talked about again. After finding its peak at $1.634, XRP reached highs not seen since May 2021 and then, as expected, began to correct, where it now trades at $1.367, 16.54% below its local high, according to the Bitstamp exchange. Related Despite all of the skepticism and heckling about XRP being an old-timer on a crypto market that is regularly under regulatory attack, at the same time, it has a large community of enthusiasts and investors. Everyone is interested in where the token will go next, and despite the fact that predicting the future on the crypto market is hardly a rewarding activity, we can turn to some indicators that can indicate the future direction of the token’s price. One such indicator is the Bollinger Bands, developed by trader John Bollinger, which show the position of the price in relation to its averages, with three moving averages as examples.  Source: TradingView This colossal move in the XRP price was preceded by the maximum compression of these bands. Back then, U.Today wrote that major movements for XRP were coming, and they happened. Now the bands have opened, and the price of the token during all…

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Filed under: News - @ November 27, 2024 2:22 am