Main XRP Price Scenario Revealed by Bollinger Bands, Bitcoin’s Most Dangerous Month About to Start, Stellar (XLM) Could Become ‘Rock Star’: Crypto News Digest

XLM could become a ‘rock star’: Peter Brandt

Veteran trader Peter Brandt says Stellar (XLM) may be poised for a major breakout.

• Symmetrical triangle. Target price: $1.51, if breakout confirms.

Brandt has shared a bullish chart showing that XLM is currently in the process of forming a large symmetrical triangle. The token is now approaching the upper line of the triangle, meaning that it could potentially experience a breakout in the near future.

• New leader. XLM outperformed XRP in July rally.

XLM recently managed to outperform the Ripple-linked XRP token during the July rally. The two tokens are usually put in the same “mental basket” due to association with billionaire Jed McCaleb (who co-founded Ripple and later pivoted to Stellar).

August: historically a tough month for Bitcoin

Bitcoin’s worst month is 4 days away — will BTC break August curse?

• Price history. BTC has closed August in the green only 4 times in the last 13 years.

August isn’t exactly known for being a great month for Bitcoin (BTC). It’s been over a decade now that the leading cryptocurrency has been trading on exchanges, and this month often brings some of the biggest dips, no matter how strong the trend is.

If you look back over the last 13 years, Bitcoin has only closed August in the green four times. The rest? It’s mostly red, with losses often crossing into double-digit territory.

• 8.5% return. Despite recent strength, August remains historically bearish.

According to CryptoRank, the median August return is around -8.3%, and in some years, like 2011, 2014 or 2015, it got pretty ugly. Even in relatively good years like 2022 and 2023, BTC saw dips of 14% and 11.2% in August, respectively.

After a shaky start, Bitcoin made a comeback, gaining almost 30% in Q2, and in July it surged by a solid 10.3%. The price structure seems to be stabilizing rather than hitting its limit.

XRP reloading for next move

Bollinger Bands hint XRP price’s next move could break all price records.

• After the rally. XRP has cooled to $3.17.

After a crazy July run that almost hit $3.70, XRP isn’t done yet — at least, not according to the chart. The price has cooled off just enough to reset the engine, and the daily Bollinger Bands now paint a picture that leans more toward continuation than collapse.

XRP is currently trading at around $3.17, which is right in the middle of the range. This suggests that it’s not just drifting around randomly, but actually reloading.

• Upward momentum. Price is hovering near the 20-day moving average

That middle line, close to the 20-day moving average, often acts like a heartbeat for trends: When price stays above it after a strong rally, it usually means that the path of least resistance is still upward. What’s interesting here is that the upper band hasn’t rolled over — instead, it has expanded all the way up to $3.79, which could mean a new challenge at the top.

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