XRP is getting ready for a big move that could outpace Bitcoin

The Bollinger Bands on the XRP/BTC pair have been seen tightening recently, which could indicate that a big move for XRP against Bitcoin is brewing.

According to Brett Crypto, usually when the Bollinger Bands tighten on an asset, it leads to a breakout, and in this case, experts believe that this move could see XRP rise by over 30% against Bitcoin.

As traders patiently await for the token to display some bullish signs, it remains to be seen if the crypto behemoth will finally break free from its recent consolidation.

A breakout above the immediate resistance at 0.0003079 BTC is likely to attract more buyers and could contribute to a broader recovery in the market. However, a failure to breakout above this level could result in a sharp selloff.

According to data from CoinMarketCap, XRP's price is currently at $2.15, showing a 1.65 decrease over the past 24 hours. Its 24-hour volume has seen a significant increase of 26%, reaching $1.97 billion, with over $1.87 billion traded in the past day.

Earlier, analyst Dark Defender had noted that XRP is expected to face resistance at the $2.22 and $2.36 levels. As anticipated, XRP touched lows of $2.13 yesterday.

According to him, XRP appears to be nearing the completion of its correction phase and could soon begin its ascent.

Pointing out that XRP is entering its 5th Monthly Wave, which is anticipated to unfold in 5 smaller sub-waves, Dark Defender set an initial target for the 1st wave at $3.

Moving ahead with Wave 3 and Wave 5, he has higher short-term price targets of $4.4 and $6.3, with support at $1.88.