In early October, XRP bounced off the lower bound of the short-term symmetrical triangle pattern at about $ 0.23. From there, buyers moved higher but struggled with the $ 0.251 resistance initially. Their increase in this regard made them draw a serious buying line.
As the bulls continue to break above the triangle today, that resistance dropped last week. Although the coin is above the triangle, it is still facing strong resistance at $ 0.261 (0.5 Fib drop) and needs to penetrate it to rise and return to September's highs. Its behavior at this point can predict how critical it will enter September.
XRP-USD Short Term Price Prediction
The RSI indicates that it still has room to continue rising before overbought, so there is still movement in the direction of buying, indicating that buyers are still not exhausted. However, the Stochastic RSI has already been overbought and prepared for a bearish trend signal. The fact that this indicator is in extreme volatility indicates that there will not be a serious decrease in the short term.
Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company.