- XRP token price, in the 4-hour chart, continues to advance inside an ascending triangle.
- The coin price struggles just below the 50 EMA and fails to sustain above it.
- Presently, XRP/BTC pair trades at 0.00002594 BTC with an intraday fall of 1.37%.
XRP token price has been advancing higher inside an ascending triangle since finding support from the $0.644 level. The coin price has managed to gain almost 60% inside the pattern. However, the fallout of this pattern might occur soon.
The decrease in the volume range over the past few sessions has resulted in little price movement. However, the coin price may soon observe a burst in volume in case of a fallout.
The XRP/USD trades at $1.010.9428 with an intraday fall of 5.02% in the market capitalization. As per market capitalization, XRP token ranks at #7.
200 EMA Support vs XRP Token’s $1 Mark
According to the daily timeframe, the XRP token price is bottling up in the ascending triangle, and Investors can soon see a directional move on the fruition of the pattern. The coin price could give a substantial growth move on the breakout of this structure.
The $1 mark provides resistance for the ascending triangle and makes life tough for the bulls. The resistance level has been critical in the technical history of the coin by providing both support and resistance on numerous occasions.
The support levels of $0.788 and $0.644 below the triangle are ready to support a fallout case. The resistance level of $1.34 may halt the uptrend if the bulls take control of the trend.
The coin price is moving sideways but with lower highs between the 200 (white) and 50 (yellow) EMA indicating accumulation as per the daily timeframe. The 50 EMA opposes the coin price near the $1 mark. The possibility of a Death Cross waits around the corner as the 50 EMA slopes down.
The RSI (slightly bearish) indicates slow bearish momentum while trading at 43. The RSI slope is dipped and heading lower into the oversold region.
Conclusion – XRP token price may soon complete the pattern and give a decisive move in either direction. Investors should cross verify the breakout with a boom in volume to avoid entering a false breakout. The closing above the $1 mark may result in the coin price hitting the $1.5 mark.
Support – $0.788 and $0.644
Resistance -$1 and $1.34