⭐️ XRP Sees Longest Bollinger Bands Squeeze in History, Hinting at Possible Price Explosion
XRP may be laying the groundwork for a massive price explosion due to a historical squeeze in its Bollinger Bands.
This indicator, which measures price volatility, has shown major patterns in the past that have often led to notable price explosions. Interestingly, the current data suggests that XRP might be on the verge of another big movement.
🔸 XRP Historical Bollinger Band Squeeze
For context, in 2016, XRP began a period of Bollinger Bands compression that lasted from August 2016 to February 2017. During this time, XRP was in a consolidation phase, holding within a relatively stable range.
Once this squeeze period concluded, XRP’s price skyrocketed, marking one of the most impressive price surges in its history.
In the months following the squeeze, XRP’s value rose dramatically from $0.00555 to an all-time high of $3.31 by January 2018. This marked an increase of nearly 60,000% within a year.
After this massive price rise, XRP began to retrace, and by May 2020, another Bollinger Bands squeeze was underway. This squeeze persisted until October 2020, when XRP saw renewed upward momentum.
However, XRP’s price rally faced a major challenge when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple in December 2020. This lawsuit led to a sudden drop in XRP’s price, with a 66.97% decline in December following a 177.23% rally in November.
Despite the setback, XRP’s price did not remain stagnant for long. Following the lawsuit’s initial impact, XRP resumed its bullish trajectory and reached a cycle peak of $1.96 in April 2021. This represented a 717% gain from its low point, achieved despite the legal issues.
