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The price of the popular cryptocurrency XRP It still has more downside than upside. At least that's what the Bollinger Bands indicator tells us if we take a look at the price chart using this popular indicator.
Last week, U.Today reported that XRP was on the verge of a painful drop to a low of $1 per token. The essence of this prediction was the popular cryptocurrency-like price action in 2018, where the price breaks the upper band and then returns to the mean. Since that article, the price of XRP has fallen by more than 3.5% and there is still room to go lower.
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However, it may not be as painful in the short term as it seems at first glance. Bollinger Bands on daily basis XRP price chart The lower end of the range currently appears at $2,103, which represents another 3.56% decline from the current price.
If XRP can find a local bottom there, further declines are unlikely in the short term. Meanwhile, on the weekly price chart, the lower band may see a rise, in which case the dismal $1 per XRP projection may remain just a nightmare and not a reality.
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Nothing is set in stone, and speculation continues Cryptocurrency Price charts change as soon as new information appears. Where XRP will find its stopping point and return remains an open question. Its price is still over $2 per token and only 53% to a new all-time high.
XRP remains the third largest cryptocurrency on the market, with a capitalization of $125 million and a daily volume of $4.67 billion – something that seemed unrealistic two months ago. That's how quickly things can change radically for an asset.
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