The downward triangular frequency which was created has always been linked with a lot of flaws, this is because the patterns could breakout from either side. This is why some analysts are advising traders to wait for a price confirmation before making any trading decisions. The FIB 382 is around 0.25 has stood as a major support level for over a year and still, the bulls are strongly protecting the support level. The possibility of things remaining at a critical point is high unless the trading price and volume experience a massive price surge.
The 21 weekly EMA of XRP key resistance is at 0.3 level break and the weekly close is what will determine the next rally if it is above this level.
There is a bullish trend forming against the XRP/BTC pair which is close to the hostile spike again. Also, there is a bullish variance on the RSI, the trading price has concluded about 20 days above the 1 Day MA50, and this is the first time since December 2018, the previous happening ended in a major bullish trend.
On the 4H chart, XRP is close to the psychological level at $0.30, the coin still can achieve the level. Although, it is looking like it will bounce back to $0.2830 which is the closest support level. There is an upcoming price correction at the oversold RSI.
