XRP: Descending Triangle Breakout
Ripple (XRP) technical analysis:
Trade setup: Bullish breakout from Descending Triangle could swing the price up to $0.40 resistance and 200-day moving average. That will be a stiff resistance area, however. Also note that $0.30 support has held many times in recent months and could be an attractive swing entry. (set a price alert). Momentum turned bullish again (MACD crossover and RSI crossed above 50 centerline).
Trend: Neutral on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.32. The nearest Resistance Zone is $0.40, then $0.45, and $0.55.
Trade setup: Bullish breakout from Descending Triangle could swing the price up to $0.40 resistance and 200-day moving average. That will be a stiff resistance area, however. Also note that $0.30 support has held many times in recent months and could be an attractive swing entry. (set a price alert). Momentum turned bullish again (MACD crossover and RSI crossed above 50 centerline).
Trend: Neutral on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.32. The nearest Resistance Zone is $0.40, then $0.45, and $0.55.
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