XRP Price Could Dip Below $2, Analyst Signals Bollinger Bands Warning

Cryptocurrency analysis platform, U.Today, warns that XRP’s price is poised for a potential decline, with technical indicators suggesting it may dip below the $2 mark. The analysis focuses on the use of Bollinger Bands, volatility indicators used by technical traders to identify support and resistance levels in the market. The mid-line of these bands currently sits at $2.32, marking a recent period of stability for XRP. However, this week’s closing price under this level is raising concerns among analysts who believe the lower band near $1.85 could become significant support as it hasn’t experienced strong buying pressure in several months.