XRP Symmetrical Triangle - Bull target $0.65, Bear target $0.42NOT FINANCIAL ADVICE
TL;DR #XRP Symmetrical Triangle, bull target $0.65, bear target $0.42
BINANCE:XRPUSDT has been trading in a symmetrical triangle for over 1 month. Well respected support trendline, with 4 clear touches.
Ascending triangle on the RSI, watch it because a break of the support or resistance trendlines there might be a leading signal of a subsequent price action breakout.
🟢 Bull case
Should we break the resistance trendline, my target will be the previous key area at $0.65.
Be careful at $0.57 because we had 2 previous fakeouts to that level.
Also watch the 200-day VWMA at $0.59 because it could offer some resistance on the way up.
🔴 Bear case
A break below the support trendline would most likely lead to a retest of $0.42, either for a triple bottom or further downside.