A cryptocurrency analyst has highlighted how the Bollinger Bands are squeezing on the daily XRP price, a potential sign that volatility could be coming.
XRP Bollinger Bands Have Tightened Recently
In a new post on X, analyst Ali Martinez has talked about the latest trend in the Bollinger Bands for XRP. The “Bollinger Bands” refer to a tool from technical analysis (TA) that help provide a gauge for an asset’s volatility.
The indicator involves three bands: a 20-day moving average (MA) middle line and two standard deviations above and below this level. Whenever the bands show a wide gap, it means the price is behaving in a volatile manner. Similarly, them contracting to a narrow width suggests stability in the market.
Now, here is the chart shared by Martinez that shows the trend in the XRP Bollinger Bands on the daily timeframe over the last few weeks:
As displayed in the above graph, the XRP Bollinger Bands were arranged at a notable gap from each other during the f
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