Ripple Technical Analysis: XRP/USD daily bull flag awaiting confirmation to breakout above $0.346

XRP/USD is trading at $0.309 while daily EMAs remain far away from the price.
The daily bull flag is the most important pattern for XRP in the short-term.

Lorenzo Stroe Independent Analyst

XRP continues fighting to remain above $0.30 and it’s not facing many resistance levels on the way to the 2020-high.

XRP/USD daily chart

The next resistance level for XRP bulls is $0.32, the high of August 3 and 4, and a psychological level. The last high at $0.325 is also a resistance point and the peak of the bull rally so far. For support, bulls can use $0.29 and the daily 12-EMA at $0.274.

XRP/USD 4-hour chart

The 4-hour chart has formed somewhat of an equilibrium pattern and it seems that XRP is breaking out. The most important level is $0.319 if XRP can climb above this resistance point, there will be a lot of price continuation.

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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XRP/USD daily chart

XRP/USD 4-hour chart

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