[XRPJPY] Ripple that does not move

Ripple is not showing vitality. It has been fluctuating around the 50 yen level, with a swing of about ±5 yen, but viewed through Bollinger Bands, this looks like a pronounced squeeze. When you take a broad, slightly pulled-back view of the chart, this “lack of movement” evokes the period in the latter half of 2017 when it remained squeezed. By the way, during that time it hovered around approximately 25 yen.

Currently, the support at the lower end is around 45 yen. On April 1 and June 29, when this level was tested, it rebounded, but what will happen on the next test? The main scenario is one where the range continues while being supported. In short, trading volume is low, so something that gives it a boost is required to regain vitality. It may be reasonable to wait for a move to deviate toward either positive or negative news before entering trades.