Long-Term Outlook

XRP Weekly Chart

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.

Medium-Term Outlook

XRP 3-Day Chart

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.

XRP Daily Chart

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

XRP 6-Hour Chart

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.

Price Prediction:

I believe that price will soon reach the resistance area near $0.35 before eventually breaking out.

Conclusions:

  • 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.

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