Legendary dealer John Bollinger has recommended that the Ripple-linked XRP cryptocurrency might turn out to be a brand new market chief in his latest social media submit.
Utilizing a vivid metaphor sourced from Inexperienced mythology, Bollinger has famous that the foremost altcoin has “resisted the latest signing of the Siren’s greatest track.”
That is the primary time that Bollinger has weighed in on XRP’s worth motion in years. Again in 2018, he stated that he didn’t know sufficient in regards to the token to have an opinion about its future.
Final month, the outstanding chartist, who’s primarily recognized for inventing the extensively used Bollinger Bands indicator, additionally rejected the concept that Bitcoin (BTC) was in a bear market.
All eyes on XRP
XRP has managed to indicate far more resilience in the course of the latest cryptocurrency market downturn. On Thursday, it added 0.58% whereas Bitcoin, the bellwether cryptocurrency, plunged by greater than 4%.
Associated
The Ripple-affiliated token is now up by greater than 16% over the previous 4 days.
The latest surge has been pushed by the excitement surrounding Franklin Templeton’s XRP ETF submitting. The $1.5 trillion funding titan has joined the likes of Bitwise, 21Shares, and WisdomTree within the race to launch such a product within the U.S.
It has additionally been reported that the authorized battle between Ripple and the SEC is wrapping up. The corporate is seemingly trying to barter extra favorable phrases after being fined $125 million final yr. In the meantime, the SEC is making an attempt to find out the authorized standing of the XRP token.