XRP price forecast – Movement within a symmetrical triangle

A look at the weekly chart in logarithmic form for XRP shows that the price fell in the support area by $ 0.25-0.30 and followed by a rebound.

Price found resistance at $ 0.42 and formed a candle spinning top (yellow arrow) indicating indecision.

Currently, the price is around $ 0.35.

Long-term Outlook

A look at the 3-day chart shows that the price is facing the resistance of all moving averages.

In addition, the MAs of the period 7 and 21 made a bearish cross.

While there is a place in the cloud where the price can make a breakout, it seems unlikely due to the substantial amount of resistance.

Medium-term Outlook

A look at the daily chart shows that the price is moving in a symmetrical triangle and has been in the last four months.

The RSI is at 50, indicating neither overbought nor oversold conditions.

However, the MACD is losing strength and seems ready to make a bearish cross.

Because of the indecision, it seems unlikely that the price will drop / decrease from the resistance / support respectively over the next 50 days.

Therefore, the price is likely to fluctuate in the area of ​​$ 0.3-0.4.

Short-term outlook and price forecasting

A look at the 12-hour chart gives a little more information about where the price could be headed.

The price has reversed after touching $ 0.45 and is developing a bearish divergence.

The RSI is at 50, indicating indecision. However, the MACD has almost passed zero, a negative sign.

Therefore, I think it is more likely that the price will fall for around $ 0.3 for the first time.

So, I think that during the next 50 days the price will be exchanged inside the symmetrical triangle outlined on the daily chart.

conclusions:

• The price shows the indecision.
• The price is moving in a symmetrical triangle.
• The price is moving into the $ 0.3-0.4 area.
• XRP Price Prediction – The price will decrease first to $ 0.3 and then be exchanged within the triangle model for the next 50 days.

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