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"XRP/BTC Ratio Breaks Above Bollinger Bands Upper Band… Suggesting Ripple's Rise"

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Son Min
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  • The XRP/BTC ratio breaking above the Bollinger Bands upper band suggests the possibility of a rise in Ripple.
  • It was noted that in 2017, the XRP/BTC ratio also surged nearly 200% after breaking above the upper band.
  • Omkar Godbole mentioned that it is worth watching if a similar upward trend will repeat this time.
STAT AI Notice
  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

Source=TradingViewSource=TradingView

There is a claim that a sharp rise in Ripple is expected based on chart analysis.

On the 3rd (local time), Omkar Godbole, a CoinDesk analyst, stated, "For the first time since 2017, the XRP/BTC ratio has broken above the upper band of the Bollinger Bands on the monthly chart," suggesting "this indicates a sharp rise in Ripple." He added, "In 2017, the XRP/BTC ratio also surged nearly 200% after breaking above the upper band of the Bollinger Bands," and "we need to see if history repeats itself this time."

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sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit