Are $ 0.40 for XRP after the latest Bullische Markt momentum? (Ripple price analysis)

Are $ 0.40 for XRP after the latest Bullische Markt momentum? (Ripple price analysis)

Although Bitcoin has experienced a significant increase in the past few days, Rippledie price movement of was rather stagnating, without a certain direction and limited volatility. However, the cryptocurrency is currently in a close range and will probably get out soon, which may lead to an impulsive movement.

technical analysis

of Shayan

the daily -type

The cryptocurrency market experienced an upward trend this week, with many assets, including Bitcoin and Ethereum, experiencing a price increase. However, Ripple was an exception because it continued to consolidate without a clear direction.

Nevertheless, XRP is currently in the narrow area of a triangle and will soon have to break out of it. This will probably lead to an impulsive movement based on the direction of the outbreak. If it is bullish, the main barrier for the price of the sliding 200-day average will be $ 0.39.

on the other hand, when Ripple falls below the lower trend line of the triangle, the $ 0.32 region will serve as a main support for the price.

Tradingview

The 4-hour diagram

ripple got static between $ 0.32 and $ 0.43 in a static range and did not manage to break out for a while. In the meantime, the price has formed a descending wedge pattern that is marked with yellow trend lines.

If the cryptocurrency successfully claims the upper trend line, it may start a rally in the direction of the resistance brand of $ 0.43

Tradingview

to make it short, XRP does not seem to have a certain direction at the moment and is expected to consolidate at short notice. Nevertheless, the impending price movement of the mood of uncertainty could put an end and specify a direction for the medium -term prospects.

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