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