XRP coin price analysis: XRP coin price trades interestingly 

• XRP coin price has been on the rise for the past two weeks and recently it rose to the important supply zone.
• The XRP coin price has broken the supply zone forming a symmetrical triangle pattern on a daily time frame.
• The pair of XRP/BTC is trading at the price of 0.00001760 with a decrease of -3.52% in the past 24 hours.

Ripple coin price stirs long-term consolidation as it moves up from the demand zone. It has formed a continuation pattern on a daily time scale indicating a possible change in the price structure to the bullish trajectory. Currently, the CRP coin price is transacting at the price level of $0.3814. 

XRP coin price is ready for a big one-sided move

After overcoming all short-term obstacles, the price of the XRP coin is now trading above the long-term supply zone. The coin has started to consolidate as of now on a daily time frame. On a weekly time frame, the coin has demonstrated positive momentum. On a daily time scale, the price of the XRP coin has developed a symmetrical triangle chart pattern. 

The price of coins recently broke out of this bullish pattern. The coin price has been steadily increasing ever since. The coin price has currently shown a breakout of the 50 and 100 MA. The coin price can be observed resting at these Moving Averages going forward. The price of coins likewise demonstrated a breakout of the 14 SMA. After rebounding off the lower band, the coin price is currently trading at the upper band of the Bollinger band indicator.

 Volatility has risen as a result of rising volumes. Investors should exercise caution since they might become caught on either side. The current bullishness has resulted in a wide range of Bollinger bands. As a result, investors should prepare for some sideways fluctuation in the price of the XRP coin in the next few days.

The XRP coin price forms a symmetrical triangle pattern on the daily time frame

ADX curve has been rising on a higher time frame as the coin continues to move upwards. In an hourly time frame, the ADX curve has dipped out of the 20 mark and has turned upwards. As seen in the 4-hour time frame the ADX curve has risen above the zone indicating strong bullishness. As the coin price hovers around the supply zone, the ADX curve is still pointed upside. Investors should wait for a  breakout of the supply zone with a positive candle formation.

The MACD indicator has given a positive crossover as the coin gave a breakout of the supply zone. The blue line crossed the orange line on the upside. This has resulted in the coin price moving up strongly. Recently the XRP coin price fell after the breakout of small resistance, as a result, the MACD indicator also depicted the same. Once the coin price starts moving up again after retesting, the gap between the blue and orange lines can be seen widening supporting the trend.

The XRP coin price rose above the supply zone with a strong bullish candlestick pattern. The coin broke out of the super trend sell line which triggered the buy signal. As of now, the XRP coin is trading above the super trend buy signal line. Going forward this line could act as a strong support zone.

Conclusion: XRP coin price as the price action suggests is forming a strong bullish chart pattern. Despite the negative global clues, the coin price is showing strength. As per the technical parameters the coin price has managed to sustain above the demand zone as they turn bullish. It remains to see if the coin price will break the supply zone or fail to do so and fall.

Support: $0.36 and $0.26

Resistance: $0.44 and $0.64

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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