- Altcoin XRP focus stay on two price targets.
- Bollinger Bands continue to tighten on the XRP price chart.
- Will the price of XRP pump soon?
The crypto community continues to grow eager despite the current short decline in the prices of BTC and altcoins. In detail, the price of BTC is currently trading in the $77,000 price range while the price of ETH is trading in the $2,400 price range. Accordingly, altcoin prices are also seeing small dips as well. In particular, altcoin XRP focus stay on two price targets as Bollinger Bands continue to tighten.
Altcoin XRP Focus Stay on two Price Targets
The many prominent voices of the crypto community today are all echoing hopeful sentiment as the US Senate gets close to the penultimate Clarity Act vote. If the bill passes this round, the next vote could be the final door it needs to pass before the bill is officially sighted as turned into a recognized law, giving crypto the much-needed regulatory clarity, leading to a bullish future for the industry.
Today, just a few hours away from the penultimate vote, the Democratic party offered a counterproposal, leading to a last minute scramble as both parties hastened towards the finish line. Already tensions were high as it seemed the Republicans seemed to be shy of a few votes to secure the total 60 that it needed to pass the Senate. Now, the community is wondering if the counterproposal will lead to a delay in the vote.
Bollinger Bands Continue to Tighten on the XRP Price Chart
As the industry watches with bated breath on how the day could proceed and close, the market is already acting to the uncertainly, with Bitcoin and altcoin prices dipped slightly. Could this be a slow breath before a massive rally for altcoin asset prices, or will a failure to pass lead to a much larger fall? In particular, one expert says that the Clarity Act passing could fuel a bullish move for XRP, especially if XRP holds above $1.33 and closes above $1.44.
As we can see from the post above, this analyst says that a pass could fuel a pump on XRP price, leading the asset to breaking past a crucial resistance level. The analyst says that XRP has spent several weeks consolidating underneath major resistance while continuing to hold the .5 retracement. This keeps the W4 structure valid, and a new local high is still very much on the table.
Thus, a .5 retracement is also completely normal for a W4 correction, so the analyst wouldn’t be surprised to see another push into resistance as high as the $1.74 – $1.78 levels. If XRP price reaches that, there could be heavy resistance. It would complete a really clean 5-wave structure from the low, making it a very logical place for a local top and correction. She concludes by stating that once XRP can eventually break $1.65 and hold it as support, this is the structural change it needs.
