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AliferCrypto

XRP Symmetrical Triangle - Bull target $0.65, Bear target $0.42

XRP / TetherUS (BINANCE:XRPUSDT)  
AliferCrypto  
BINANCE:XRPUSDT   XRP / TetherUS
Trend Lines Triangle Oscillators xrp ripple symmetrical Relative Strength Index (RSI) support Support and Resistance
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trendline triangle oscillator xrp ripple symmetrical relativestrengthindex support supportandresistance
NOT FINANCIAL ADVICE

TL;DR #XRP Symmetrical Triangle, bull target $0.65, bear target $0.42

  • XRPUSDT has been trading in a symmetrical triangle for over 1 month. Well respected support trendline, with 4 clear touches.
  • Ascending triangle on the RSI, watch it because a break of the support or resistance trendlines there might be a leading signal of a subsequent price action breakout.

🟢 Bull case
  • Should we break the resistance trendline, my target will be the previous key area at $0.65.
  • Be careful at $0.57 because we had 2 previous fakeouts to that level.
  • Also watch the 200-day VWMA at $0.59 because it could offer some resistance on the way up.

🔴 Bear case
  • A break below the support trendline would most likely lead to a retest of $0.42, either for a triple bottom or further downside.
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