Did XRP finally get out of the symmetric triangle?

Long-term prospects

An examination of the weekly chart for the XRP shows that the price is trading at $ 0.32, which is facing resistance very close to the moving average of the 21 periods.

It is trading slightly above the support zone of $ 0.3.

The next support zone is around $ 0.15, while the nearest resistance zone is around $ 0.45.

The price is also trading below the 21- and 50-period moving averages and the Ichimoku Negative 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 making strong progress, but is not yet positive.

Medium-term outlook

A review of the 3-day chart shows that the price exactly matches the line of resistance that has been in place since April 2018. This line coincides with the MA of 21 periods.

Just above, there is the resistance zone 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 heading up, but is not yet positive.

An examination of the daily chart shows that the price is trading in a symmetrical triangle for 43 days.

The support line has been validated five times.

If the price comes out of resistance near $ 0.34 and the Ichimoku cloud, we can expect a rapid increase.

Short-term outlook and price forecast

A review of the 6-hour chart shows that the price closely follows the support line described in the daily chart.

In addition, he made two unsuccessful attempts to exceed the $ 0.35 threshold before returning to the support line.

Finally, the stock traded above the moving averages of 21.50 and 200 periods and found superior support for them.

Price prediction:

I think the price will soon reach the resistance zone near $ 0.35 before it breaks out.

conclusions:

• The price is trading above short-term moving averages.
• The price is trading inside a symmetrical triangle.
• There is a resistance close to $ 0.45.
• There is support close to $ 0.3.

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