- XRP price is trading inside the symmetrical triangle pattern, while the breakout from the pattern can give an initial target of $2.00 in the very short term
- The coin is trading above all major moving averages of 20, 50, 100, and 200-day, whereas volume needs to increase as it slips below-average line
- Siminountanisly, the pair of XRP/BTC is CMP at 0.00002723 BTC with an intraday dip of -2.34%
XRP price is trading inside the symmetrical triangle pattern, in the monthly chart, it is forming a bullish chart structure. Whereas the coin is sustaining above all exponential moving averages (MA) of 20, 50, 100, and 200-day, similarly, the rising trend line acts as a support line. Meanwhile, a significant thing to watch is volume activity which needs to improve since the volume over the monthly chart is decreasing. Moreover, the coin must hold the SMA of 20-day for the breakout from the pattern formed. Support on the lower side is at $1.40 and $1.10. Likewise, $1.77 and $2.00 are acting as resistance levels. Since the overall market condition is bullish and we can experience a favorable moment in XRP till $2.00.
Meanwhile, XRP`s quarter 1st Earnings are also better than last year, even in COVID-19 pandemic where total sales by Ripple were at $150.3M compared to $76.27M the previous quarter.
XRP Near Critical Trend Line
The 4-hour chart of XRP price is projecting a positive movement, as it forms the higher highs and lowers low sequence. Simultaneously, a rising trend line is also seen over the chart, which XRP must hold for further positive momentum. Currently, the coin is trading at $1.58 with minor intraday growth of +1.02%. At the same time, the volume drops around -35.78% in the last 24-hour stands at $8,897,216,262. However, it slipped in ranking, which is now at 5th position, standing at $55,523,570,004, down by -21.23%.
Relative Strength Index (NEUTRAL) indicates sideways momentum while trading at 53.62. However, it is presently trading around the overbought zone after recovery from the oversold zone.
Moving Average Convergence Divergence (NEUTRAL) currently indicates a mixed trend on a daily chart. XRP is trading on a mixed note where the buyer’s signal line (green) and the seller’s line (red) overlap each other with no sign of a clear trend.
Support levels: $1.40 and $1.10
Resistance levels: $1.77 and $2.00.
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