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XRPUSDT – Symmetrical Triangle △ for BINANCE:XRPUSDT by caldooninvestment

-XRP is currently trading inside a symmetrical triangle, which usually acts as a continuation pattern. If the bulls can drive the price above the resistance line of the triangle, the altcoin could retest the 52-week high at $1.96.

-A breakout and close above $1.96 could start the next leg of the uptrend that may reach $2.68. The RSI has risen into the positive territory but the 20-day EMA ($1.43) is yet to turn up, which suggests that bears are likely to defend the resistance line aggressively.

-If the price turns down from the resistance line, the XRP/USDT pair could extend its stay inside the range for a few more days. The pair could turn negative if the bears sink and sustain the price below the triangle. Such a move may pull the price down to $0.88.

-The price has dipped to the moving averages on the 4-hour chart. If the pair rebounds off the current levels with strength, it will suggest buying on dips. The bulls will then try to push the price above the triangle.

-Alternatively, if the bears sink and sustain the price below the moving averages, the pair could drop to $1.35 and then to the support line of the triangle. A break below this support could signal an advantage to the bears.

Our Opinion on XRPUSDT:

Very bullish , however, when the crypto market is taken as a whole, the Crypto Fear & Greed index and the recent volatility within the stock and crypto market shows the hesitancy of the investors. We suggest to wait for a drop to the support of the triangle and if the support will be maintained then to buy from the dip!

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