XRP fell more than 10% on Friday, trading around $0.90, as the token recorded its ninth consecutive red day. Despite the sharp decline, a Bollinger Band analysis published on TradingView indicated the price remains above the lower band, suggesting the asset is not in a free‑fall condition.
What happened
Investing.com reported a 10.13% sell‑off in XRP during the latest trading session. CoinGecko data shows the token price at $0.895265, down 10.78% over the past 24 hours. The decline marks nine straight days of negative price action. In a separate technical note, TradingView highlighted that XRP’s price is still trading above the lower Bollinger Band, a metric often used to gauge whether an asset is in a sustained free‑fall.
Why it matters for traders
- Risk assessment: The Bollinger Band position suggests that while the token is under pressure, it has not breached a key technical support level, which may limit further downside risk.
- Volatility signal: A double‑digit drop combined with nine red days signals heightened short‑term volatility, prompting traders to tighten stop‑loss orders.
- Market sentiment: The persistent sell‑off aligns with broader crypto market weakness, but the technical indicator offers a counterpoint that could attract contrarian positions.
- Position sizing: Traders may consider smaller position sizes or hedging strategies until clearer price direction emerges.
What to watch next
- Whether XRP can hold above the lower Bollinger Band in the next 24‑hour period, which would reinforce the technical view of limited free‑fall.
- Volume trends on major exchanges; a rise in buying volume could signal a potential bottom.
- Resistance levels around $0.95 and $1.00, which may act as short‑term targets if price stabilises.
- Any regulatory announcements or macro‑economic data that could impact broader crypto sentiment, as XRP often reacts to news affecting the digital asset market.
Sources
- XRP Is Not in Free Fall According to Bollinger Bands, Even After Nine Red Days (TradingView)
- XRP Falls 10.13% In Selloff By Investing.com (Investing.com Canada)
This is a developing story and will be updated as new information is confirmed. For information only, not financial advice. How we report.
