XRP Consolidates Within Triangle Awaiting a Bullish Breakout
-XRP stays stagnant as ETH rockets to ATH
-XRP has been forming a symmetrical triangle for nearly a month
-Price needs to break $1.65 to see large bull move
After an explosive move to $1.95, XRP has been consolidating within a triangle formation. XRP investors are awaiting a decision in the pending SEC lawsuit as gains have been small compared to large cap coin Ethereum. IF price can break out of this triangle, more gains might be coming.
During the last few days XRP has been struggling to break major resistance of $1.65. This price mark also is in conjunction to the top trend line of the symmetrical triangle. If XRP can break & hold these marks, the path is clear to $2.
Major support for XRP lands around $1.47. This mark is near the bottom trend of the symmetrical triangle. XRP has about 2 days before a large move. The 30MA has been holding the price up for nearly 2 weeks. A break below this line will send XRP to $1.30 and below.
While looking at the RSI, we can see that strength has flat lined recently. This is a good signal that a large move is brewing. The MACD also confirms this standpoint as the MAs have been going sideways for almost 10 days. A break of either trend will send XRP in that direction.
XRP intraday levels
Spot rate: $1.54
Trend: Bullish
Volatility: Low
Support: $1.47
Resistance: $1.65
-XRP has been forming a symmetrical triangle for nearly a month
-Price needs to break $1.65 to see large bull move
After an explosive move to $1.95, XRP has been consolidating within a triangle formation. XRP investors are awaiting a decision in the pending SEC lawsuit as gains have been small compared to large cap coin Ethereum. IF price can break out of this triangle, more gains might be coming.
During the last few days XRP has been struggling to break major resistance of $1.65. This price mark also is in conjunction to the top trend line of the symmetrical triangle. If XRP can break & hold these marks, the path is clear to $2.
Major support for XRP lands around $1.47. This mark is near the bottom trend of the symmetrical triangle. XRP has about 2 days before a large move. The 30MA has been holding the price up for nearly 2 weeks. A break below this line will send XRP to $1.30 and below.
While looking at the RSI, we can see that strength has flat lined recently. This is a good signal that a large move is brewing. The MACD also confirms this standpoint as the MAs have been going sideways for almost 10 days. A break of either trend will send XRP in that direction.
XRP intraday levels
Spot rate: $1.54
Trend: Bullish
Volatility: Low
Support: $1.47
Resistance: $1.65