XRP is struggling against Bitcoin for the last few days, but performing well against the dollar. XRP ‘s price has increased by 42% since the starting of the year. XRPUSD is currently trading at 0.24$ on all major exchanges.
Technical Analysis – Daily Chart
Pattern
- Ascending Triangle formation spotted on the daily chart – usually, a bullish pattern produces breakouts.
Moving Averages
- XRPUSD is trading above 50,100 MA – Both are providing support to the price. 200MA remains as resistance which sits around 0.26$, A successful break from this resistance will push to price above 0.27$ in the next few days.
Other Indicators
- MACD is producing a bullish crossover which indicates bullish continuation for next few days.
Prediction
After studying indicators and patterns on XRPUSD – we can predict the price to hit 0.27$ this week.
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Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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