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In August, $XRP’s price surged by around 40%, climbing toward the $1.48 mark. According to CryptoRank, this month has already officially become the coin’s most profitable August in the past five years, completely reversing the severe spring–summer decline.
However, despite the current parabolic momentum, the Bollinger Bands charts on TradingView indicate that the next major opportunity for a long-term entry into the asset could emerge if the price returns to the key technical level of $1.14.
What will happen if the price returns to $1.14
What looks like a sudden surge from the outside appears on TradingView charts as a classic release of accumulated energy. For several months, $XRP’s volatility had been declining, squeezing the price below a heavy ceiling.
During this process, the $1.1470 level acted as strong resistance for a long time, preventing the asset from moving higher while the price hovered around $1.00 throughout the summer. This week, the prolonged Bollinger Bands squeeze finally ended: the price broke through this resistance level from below with a powerful impulse, surged above the indicator’s upper band, and settled at $1.4853.
Since trend-strength indicators such as the RSI on higher time frames remain in neutral territory, at around 49–55 points, the market is not critically overheated, and the current rally still has room to continue.
Right now, the main macro target for the bulls is a breakout above the monthly Bollinger Bands midline near $1.98, which would open the way for a return to the $2.40–$3.20 range.
At the same time, the broken $1.1470 level is now changing its role and becoming the ultimate re-entry point. In the event of a local correction, this level will turn into the main strategic support: as long as the price remains above it, the long-term uptrend will remain protected from invalidation, while a potential retest of the $1.14–$1.24 zone will be viewed by the market as an optimal opportunity to accumulate more $XRP.
Source: cryptonews.net