An interesting pattern hinting at a potential monumental jump in value has formed on the XRP price chart. This time, the focus is on the Bollinger Bands, a popular technical indicator for traders.

For those unfamiliar with Bollinger Bands, developed by famous trader John Bollinger, they consist of a simple moving average and two standard deviations above and below it. The narrowing of these bands usually indicates a period of low volatility, often preceding significant price movements.

Thus, the current analysis shows that the bands are experiencing a notable narrowing comparable only to what happened once in 2017, when there was an unprecedented jump in the price of XRP by a staggering 55,000%. At that time, the cryptocurrency’s price peaked at $3.30 per token by early 2018.

Narrowing also occurred after that, but such strong movements were no longer predicted. For example, in late 2020, the emergence of this pattern preceded a significant sevenfold increase in the price of XRP, reaching almost $2 per token by April 2021.

Thus the continued narrowing of the Bollinger Bands, which began in November 2022, adds weight to arguments in favor of a potential rise in the value of XRP in the near future.

XRP is currently trading at less than half a dollar per token. Will it be able to execute such a powerful price bounce from there? It seems that only the most desperate optimist would believe it. However, what can be known for sure on the crypto market?