A look at the Weekly chart for XRP shows that the price is trading at $0.32, facing very close resistance from the 21-period Moving Average.
It is trading slightly above the $0.3 support area.
The next support area can be found near $0.15, while the closest resistance area is found near $0.45.
The price is also 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, but is not positive yet.
A look at the 3-day chart shows that the price is right at the resistance line that has been in place since April 2018. The line coincides with the 21-period MA.
Right above, there is the resistance area near $0.4, which coincides 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.
A look at the Daily chart shows that the price has been trading inside a symmetrical triangle for the past 43 days.
The support line has been validated five times.
If the price breaks out of the resistance near $0.34 and the Ichimoku cloud a rapid increase could be expected.
Short-Term Outlook and Price Prediction
A 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 before returning to the support line.
Finally, the price is trading above the 21,50 and 200-period moving averages and has found support above them.
I believe that price will soon reach the resistance area near $0.35 before eventually breaking out.
- The price is trading above short-term moving averages.
- The price is trading inside a symmetrical triangle.
- There is resistance near $0.45.
- There is support near $0.3.