XRP daily Bollinger Bands signal bearish trend, $2 recovery unlikely this year

An analysis of XRP's daily Bollinger Bands indicates a pessimistic outlook, making a recovery to the $2 level by the end of the year unlikely, according to U.Today. The report notes that on the XRP/USDT daily chart, the price remains below the middle line of the Bollinger Bands, suggesting a lack of the capital inflow needed for a significant rally. While it is too early to confirm a complete downtrend, the analysis concludes that a return to $2 this year is improbable. For a bullish reversal, XRP must reclaim the middle line, currently at approximately $2.0189. If the daily candle closes below this level, it is expected to become a strong technical resistance.