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Medium-term trend XRP / USD: bearish
Resistance levels: $ 0.52, $ 0.53, $ 0.55
Support levels: $ 0.49, $ 0.47, $ 0.45
The XRP is bearish for the medium-term prospects. On November 5, the bulls gained enough momentum, the XRP price rose from the support level of $ 0.47 to the resistance level of $ 0.55 where the price was rejected by the pressure of the bears that broke the previous levels support of $ 0.53 and $ 0.52 at the support level of $ 0.49, began consolidation. The movement of XRP prices led to the formation of a symmetrical triangle pattern on the 4-hour chart.
The price break in the upper triangle trend line will make the XRP price rise to the north, which could target the resistance level of $ 0.52; this may be possible from the level of momentum gained by the bulls or by fundamental radical events. Likewise, it will take the bears to gain enough momentum before the lower triangle trend line can be broken, which will push the XRP price below the support level of $ 0.49 to the minimum of $ 0.47 as a target. .
The XRP price is between 21-day EMA and 50-day EMA with the two EMAs close together, indicating that consolidation is underway. Furthermore, the MACD with its histogram is on the same line (zero) and its signal line is parallel to the zero level which confirms the consolidation in the XRP market. The breakout is imminent; traders should be patient before taking a position.
Short-term trend XRP / USD: variable
XRP / USD is going on the chart at 1 hour. The currency entered consolidation on November 8, after the bearish move from the resistance level of $ 0.53 to below the $ 0.52 level. The XRP price is a limited range between the resistance level of $ 0.52 and the support level $ 0.49.
It is clearly seen on the XRP market that the price has formed a symmetrical triangle from here; it is only the fundamental fundamental events that can bring the XRP price out of the consolidation phase. Therefore, traders should pay attention to the break.
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