2019-3-7 15:50 |
Long-Term Outlook Chart – Source: Tradingview.com
A look at the Weekly chart for XRP shows that the price is trading at $0.32, slightly above the support line near $0.3.
The next support area can be found near $0.15, while the closest resistance area is found near $0.45.
The price is trading below the 21 and 50-period moving averages and the negative Ichimoku cloud.
The RSI is at 43, indicating neither overbought nor oversold conditions.
On a more positive note, the MACD has made a bullish cross and is moving upward with strength.
Medium-Term Outlook Chart – Source: Tradingview.comA look at the 3-day chart shows that the price is facing very close resistance from the 21-period MA.
We also have the minor support area near $0.4, coinciding with the 50-period MA and the edge of the Ichimoku cloud.
The MACD has made a bullish cross and is moving upward, but is not positive yet.
Chart – Source: Tradingview.comA look at the Daily chart shows that the price has been trading inside a symmetrical triangle for the past 37 days.
The support line has been validated four times.
Furthermore, the MACD is undecided between making or rejecting a bullish cross.
Short-Term Outlook and Price Prediction Chart – Source: Tradingview.comA look at the 6-hour chart shows that price has been closely following the support line outlined in the Daily chart.
Furthermore, it has made two unsuccessful attempts at breaking out above $0.35.
The volume on bearish candle has been larger than that on bullish candles, but not by a lot.
Finally, the price is trading above the 21,50 and 200-period moving averages and has found support above them.
Price Prediction:I believe that price will consolidate near the support line and ultimately validate it once more.
Conclusions: The price is trading below the long-term moving averages. The price is trading inside a symmetrical triangle. There is resistance near $0.45. There is support near $0.3. Latest Ripple News:Ripple’s XRP & Binance Coin [BNB] Analysis – XRP Reverses Coinbase Listing Gains
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DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.XRP Price Prediction: Will We Finally Break Out of the Symmetrical Triangle? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.
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