XRP Symmetrical Triangle - Bull target $0.65, Bear target $0.42

20 May

NOT FINANCIAL ADVICE

TL;DR #XRP Symmetrical Triangle, bull target $0.65, bear target $0.42

• 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.