According to CryptoPotato, Ripple's XRP has seen a 7% decline in the past 30 days, mirroring the overall market trend. Currently, it is trading at $0.45, having managed to recover the crucial $0.40 level after a significant drop on July 5th. A popular technical indicator, the Bollinger Bands, is now signaling potential value spikes at levels not seen since XRP was trading at approximately $0.006.
The Bollinger Bands, named after John Bollinger, were developed to provide adaptive trading bands that respond to volatility dynamics. These bands represent envelopes plotted at a standard deviation level above and below a simple moving average of the price, adjusting to volatility swings. The closer the bands are to each other, the lower the volatility, often indicating a significant move in either direction.
An anonymous user noted that XRP is currently experiencing one of the tightest monthly Bollinger Band squeezes in its history, and in the entire crypto market. The last time such a squeeze occurred, XRP's value increased by 60,000%. If such an increase were to happen again, XRP's price could potentially reach $270 per coin, resulting in a fully diluted valuation of approximately $27 trillion, 13 times greater than the current market capitalization of the entire industry.
However, it's important to note that other optimistic XRP price predictions have been made, though not as extreme as this one. Earlier in July, some analysts predicted future gains of $17 and $9.50. While these figures represent significant increases, they seem more plausible compared to a 60,000% increase.