Legendary trader John Bollinger, known for his Bollinger Bands indicator, has recently weighed in on the Ripple-linked XRP cryptocurrency. In a social media post, he compared XRP’s resilience to the Siren’s song from Green mythology. This is the first time Bollinger has commented on XRP’s price action in years.
Back in 2018, he admitted to not knowing enough about the token to have an opinion about its future. However, it seems that XRP has caught his attention now.
Last month, Bollinger also rejected the idea that Bitcoin (BTC) was in a bear market. Meanwhile, XRP has shown much more resilience during the recent cryptocurrency market downturn.
All eyes on XRP
On Thursday, XRP added 0.58% while Bitcoin plunged by more than 4%. The Ripple-affiliated token is now up by more than 16% over the past four days. This recent surge has been driven by the buzz surrounding Franklin Templeton’s XRP ETF filing.
The investment titan has joined the likes of Bitwise, 21Shares, and WisdomTree in the race to launch such a product in the U.S. Additionally, it has been reported that the legal battle between Ripple and the SEC is wrapping up.
Ripple is apparently attempting to negotiate more favorable terms after being fined $125 million last year. Meanwhile, the SEC is trying to determine the legal status of the XRP token. Will XRP become the new market leader, or is it just the Siren’s song luring traders in? Only time will tell…
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2025-03-14 22:08