Ripple Price Analysis: XRP/USD teases bears inside short-term triangle
Crypto News

Ripple Price Analysis: XRP/USD teases bears inside short-term triangle

  • XRP/USD snaps two-day winning streak while battling 10-day SMA.
  • Bearish MACD, sustained failures to break the triangle keep sellers hopeful.

XRP/USD drops to 0.6151, down 1.20% intraday, during early Monday’s trading. In doing so, the crypto major fades the previous two days’ recovery moves inside a two-week-old symmetrical triangle.

Additionally, MACD also flashes the bearish signals while the quote re-tests 10-day SMA.

Thus, XRP/USD sellers eyeing the month-start low of 0.5788 become active while the support line of the stated triangle, at 0.5662 now, could challenge the bears afterward.

It should also be noted that a 21-day SMA level of 0.5392 offers an extra downside filter past-0.5662.

Meanwhile, an upside clearance of the triangle’s resistance line, currently around 0.6430, can probe the monthly high close to 0.6815.

In a case where the XRP/USD bulls keep the reins past-0.6815, the all-time peak, marked in late-November near 0.7845, should gain market attention.

XRP/USD daily chart

Trend: Further weakness expected


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