A certified Chartered Market Technician (CMT) analyst recently shared a chart discussing the XRP price potential for a bullish surge. Basing his projections on key technical indicators, the analyst believes that the XRP price rally still has a long way to go before it reaches overbought levels.
Technical Indicators Signal XRP Price Bullish Reversal
CMT-certified crypto analyst Tony Severino took to X (formerly Twitter) on December 18 to highlight the potential for an XRP price bullish reversal to the upside. The analyst points to the combination of historical technical signals and tightening Bollinger Bands (BB) as an indication of a looming price rally.
The analyst has expressed confidence in the XRP price outlook, admitting that he had underestimated its bullish potential. He revealed that the XRP/BTC quarterly chart looks exceptionally strong, with its three-month candlestick closing above the Bollinger Bands basis at 0.00001717, for the first time since April 2019.
Severino revealed that the XRP price had touched the upper Bollinger Band at $0.0000286, a critical level typically associated with significant bullish momentum. According to the analyst, a quarterly close above this upper band could serve as a buy signal for XRP, emphasizing that the Bollinger Bands are curre
Go to Source to See Full Article
Author: Scott Matherson
