The past three days have been a rollercoaster ride for the cryptocurrency markets, to say the least. Popularity Cryptocurrency XRP This was no exception, seeing a 6.2% drop, then a 4.51% rise, and then yesterday's 4.22% drop.

These aren't the biggest numbers for the cryptocurrency market, but for assets with a market capitalization of $131 billion like XRP, that's a lot of numbers for three days. Despite all this bumping, hollowing out and humping, as Peter Brandt likes to say,... Cryptocurrency The pair managed to hold above the important price point represented by the 20-day EMA, which also acts as an average in the Bollinger Band indicator.

This technical analysis tool, developed by John Bollinger, has become popular among traders due to its reliability in tracking the movement of asset prices, making it easy to interpret and evaluate the current situation on the price chart.

to XRPHolding above the average keeps the bullish bias intact and opens the possibility of at least testing the upper band, which currently stands at $2.51 per XRP, i.e. 10% above the current level.

However, if it breaks, the bulls will have to face a much more bearish reality as the narrative changes to XRP testing the lower range at $2.03, roughly 11% below today's levels.

So, it's really a make or break moment for XRP right now, with roughly equal margins of downside and upside. However, the fact that the middle line of the Bollinger Bands indicator is holding up tilts the balance to the upside.