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**XRP Price Defends Major Bollinger Bands Level: Bullish?**
The recent price action in the Ripple (XRP) market has been quite intriguing. The asset has managed to defend a crucial level, which could have significant implications for its future trajectory.
As you can see from the chart below, XRP’s price has successfully held onto the lower Bollinger Band, a critical support area that has been tested multiple times in recent weeks. This resilience is a positive sign for bulls, as it suggests that demand remains strong and willing to absorb any selling pressure.
In fact, this bounce is reminiscent of the previous instances where XRP managed to hold its ground, eventually breaking out of the Bollinger Band and propelling itself toward higher highs.
The current situation could be a repeat of that scenario. If that’s the case, we might see XRP continue its ascent, potentially targeting the upper Bollinger Band at $2.51. This would be a substantial gain from the current levels.
On the other hand, if this retest fails and the price of XRP breaks below the median line (middle line), the focus could shift to the lower Bollinger Band around $2. If that occurs, it may signal a significant correction or even a bearish reversal in the short term.
The takeaway is clear: the current defense of the lower Bollinger Band has strengthened the bullish case for XRP. However, as with any market action, caution should be exercised when considering potential outcomes.
Source: u.today
