XRP Price Analysis: XRP Price Soon To Escape Continuation Pattern; Is $0.9 On Cards?
Uncertainty among the market traders has cramped the Ripple(XRP) price inside a symmetrical triangle pattern. However, as the days pass, the price range gets narrower, suggesting the altcoin is poised to breakout. On Friday, the technical chart forms a Daily-Doji candle with 0.50% intraday gain.
Key points
- The XRP bears maintain a bearish alignment among the EMA lines(20, 50, 100, and 200)
- The Tug-of-war inside the triangle pattern will soon come to an end.
- The intraday trading volume in the XRP is $2.4 Billion, indicating a 2.48% loss.
Source- Tradingview
On March 9th, the XRP buyers attempted to breach the overhead trendline of the symmetrical triangle pattern. However, the traders continued to sell at this dynamic resistance and pulled the altcoin inside the price pattern. For almost three weeks, the XRP/USD price resonates between the $0.785 and $0.6 levels
As the XRP community believes the defendants will win in the Ripple Vs SEC lawsuit, the buyers would try to end this sluggish rally with a decisive bullish breakout. If they succeed in sustaining the altcoin above the descending trendline, the bulls will drive the price $0.9 mark.
Conversely, if sellers breach the bottom support trendline, the traders can expect a 15% freefall, retesting the January low support($0.586).
Technical Indicator
The OBV indicators show a steady decline in volume activity since the beginning of the correction phase.
The Ripple(XRP) price trading below the crucial EMAs(20, 50, 100, and 200) suggests the bears have the upper hand. Moreover, the flattish nature of these EMA lines highlights a sideways rally.
Since Mid-February, the Relative Strength Index(49) slope has been wavering around the midline, indicating a neutral tendency.
- Resistance level: $0.85 and $1
- Support levels: $0.745 and $0.59
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown
- Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility
- October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
