All Time High
XRP Hits Another All-Time High
XRP's price has reached another all-time high, firmly trapped between $1.30 and $1.59. The current extreme contraction of the Bollinger Bands on the weekly chart suggests that the asset is entering another major accumulation phase, a pattern that has historically gripped the market with a strict four-year cycle. This is the third time in four years that XRP has experienced a similar pattern, with the current range marking the beginning of another two-year phase of market stagnation. The coin's open interest remains near record highs at around $3.1 billion, with the Relative Strength Index (RSI) stuck at 44, signaling a complete lack of directional momentum. The tightening Bollinger Bands are methodically wiping out traders' deposits on both sides of the market, with any attempt to push the price below the psychological support zone triggering a buying response and the liquidation of short positions. The current sideways market will continue to test the nerves of long-term investors, grinding down record levels of open interest within this price trap.