Market analyst and host of the Good Morning Crypto show, Abdullah Nassif, has made a bold prediction about the future price of XRP. Despite its recent decline of 15.73% since April 1, Nassif believes that XRP has the potential to reach a price range of $13 to $17. He bases this prediction on the historically significant levels reached by XRP’s Bollinger Bands.
The Bollinger Bands are a popular analytical tool that consists of a moving average and two standard deviation-based bands above and below it. They are used by market analysts to assess market volatility and potential price levels. Currently, the Bollinger Bands on the monthly chart for XRP have become tighter than usual, which typically signals a surge in volatility. In the past, when the bands have tightened like this, XRP has experienced a significant price uptrend.
The first time this occurred was from October 2016 to February 2017, when XRP was in a multi-month downtrend. However, after the Bollinger Bands tightened, XRP’s price experienced a massive volatility spike, leading to a spike to an all-time high of $3.31 in January 2018.
The second occurrence happened in 2020, when the Bollinger Bands tightened from February to October. Again, XRP experienced a similar volatility spike, resulting in a rally to a peak of $1.96 in April 2021.
It’s important to note that the Bollinger Bands tool is not a directional indicator, so it doesn’t predict whether the volatility will lead to an upward or downward trend. However, Nassif and other analysts expect a surge to the upside.
Nassif points to prevailing on-chain signals that suggest XRP could be poised for a move toward greater heights. He projects a target range between $13.08 and $17.10 as his ultimate target. This would require XRP to surge 3,125% from its current price of $0.5301.
It’s essential to remember that this information is for informational purposes only and should not be considered financial advice. Readers are encouraged to conduct thorough research before making any investment decisions.