What’s driving XRP’s rally?
One potential factor behind XRP’s recent outperformance could be the historical pattern that has formed on its price chart. As CryptoPotato reported, the pattern includes the Bollinger Bands indicator — a technical tool used by analysts to measure volatility. It provides traders with an intuitive framework to identify trends and potential reversals. The width of the indicator’s bands also indicates market volatility: the wider the bands, the more volatility, while the opposite indicates less volatility, which can be a precursor to sharp swings in either direction. One X user noted that last week’s range was quite tight, reminding that such situations have led to price surges of 60,000% in the past. Another factor could be the progress of the case between Ripple and the U.S. Securities and Exchange Commission (SEC) and the rising expectations for the outcome in the coming weeks. U.S. attorneys Fred Rispoli and Jeremy Hogan believe that the lawsuit could be officially concluded as early as this summer. The legal dispute is currently at trial, which means that a resolution could be announced at any time. However, due to the complexity of the process and the possibility of appeals by both parties, the lawsuit could be extended indefinitely.
