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.com

A 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.com

A 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.com

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.

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:

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