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XRP Price Analysis: XRP Consolidates Within Triangle Awaiting a Bullish Breakout

XRP Price Analysis: XRP Consolidates Within Triangle Awaiting a Bullish Breakout
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After an explosive move to $1.95, XRP has been consolidating within a triangle formation. XRP investors are awaiting a decision in the pending SEC lawsuit as gains have been small compared to large cap coin Ethereum. IF price can break out of this triangle, more gains might be coming.

During the last few days XRP has been struggling to break major resistance of $1.65. This price mark also is in conjunction to the top trend line of the symmetrical triangle. If XRP can break & hold these marks, the path is clear to $2.

XRP Price Analysis: XRP/USDT 1 Day Chart

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Major resistance for DOGE is $0.69. This price level is the mark DOGE needs to break and hold for a new potential ATH. After breaking below the long term trend, it is likely for Doge coin to continue lower. A break of the MA15 will be a confirmation more downside is coming as it has been holding as support for almost a month. 

While looking as the RSI, we can see a large bearish divergence has formed. This occurs when the price creates a higher high but the strength prints a lower high. We can expect strength and price to go lower as a result. The MACD is very overextended. The histogram is starting to tick down and a bearish cross is impending. 

DOGE intraday levels 

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  • Spot rate: $0.543
  • Trend: Bullish
  • Volatility: High
  • Support: $0.44
  • Resistance: $0.692

The post XRP Price Analysis: XRP Consolidates Within Triangle Awaiting a Bullish Breakout appeared first on Coingape.

 

Source: Coingape

 


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