Legendary Trader John Bollinger Comments on XRP
Legendary trader John Bollinger has suggested that the Ripple-linked XRP cryptocurrency could become a new market leader in a recent social media post.
Using a vivid metaphor from Greek mythology, Bollinger noted that the major altcoin has “resisted the recent signing of the Siren’s best song.”
This is the first time that Bollinger has weighed in on XRP’s price action in years. Back in 2018, he stated that he did not know enough about the token to have an opinion about its future.
Last month, the prominent chartist, known for inventing the widely used Bollinger Bands indicator, also rejected the idea that Bitcoin (BTC) was in a bear market.
All Eyes on XRP
XRP has shown much more resilience during the recent cryptocurrency market downturn. On Thursday, it added 0.58% while Bitcoin, the leading cryptocurrency, plunged by over 4%.
The Ripple-affiliated token is now up by more than 16% over the past four days.
The recent surge has been driven by the buzz surrounding Franklin Templeton’s XRP ETF filing. The $1.5 trillion investment giant has joined Bitwise, 21Shares, and WisdomTree in the race to launch such a product in the U.S.
It has also been reported that the legal battle between Ripple and the SEC is nearing a conclusion. The company is attempting to negotiate more favorable terms after being fined $125 million last year. Meanwhile, the SEC is determining the legal status of the XRP token.
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