XRPUSD is consolidating within a symmetrical triangle, positioned near the all-time high (ATH) resistance zone. This structure reflects indecision in the market as the price holds above the EMA Ribbon, which remains bullish, while also facing significant resistance.
The TSI has been declining; however, the price has maintained its range, indicating that the bullish trend remains supported.
If the price breaks out of the triangle, the projected targets are $3.83 on the upside and $1.33 on the downside, with the latter aligning with a demand zone.
Traders are advised to monitor the breakout direction and use the previous swing low or swing high as a potential stop-loss level, as the outcome will likely dictate the next significant move.
👨🏻💻💭 What’s your take on this consolidation? Will XRP break higher or retest lower levels? Let’s discuss below!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.