Ripple Price Prediction: XRP anticipates a 28% move if key technical pattern confirms

Ripple is dancing at the apex of a symmetrical triangle.
The 50 SMA protects XRP's immediate downside on the 4-hour chart.
The MACD indicators suggest that bulls are in control.
The symmetrical triangle could lead to a massive breakdown if the lower trendline breaks.

Ripple is trading between two critical levels while sustaining the price at $0.45. The upswing in Bitcoin price on Saturday had minimal impact on XRP. Meanwhile, the cross-border token's consolidation is most likely to culminate in a significant upswing if a symmetrical triangle breakout comes into the picture.

Ripple looks toward significant liftoff to $0.6

The international remittance token is trading at $0.45 while squeezed between two key levels; the 50 Simple Moving Average (SMA) resistance and the 100 SMA, on the 4-hour chart. A breakout is anticipated above the symmetrical triangle.

The pattern forms in a relatively consolidating market and hints at either a breakout or a breakdown. A breakout occurs when the price crosses above the upper trendline. On the other hand, a breakdown comes into play when the price slices through the lower trendline.

As long as the 50 SMA support stays in place, Ripple will be primed for a 28% upswing on breaking past the descending trendline. The Moving Average Convergence Divergence (MACD) also hints at the trend flipping bullish in the near-term. A MACD cross above the signal, and by extension, the midline would be a huge bullish signal.

XRP/USD 4-hour chart

Looking at the other side of the fence

Ripple will entertain losses if the 100 SMA immediate support breaks. Note that the triangle pattern can also result in a colossal breakdown, measured from the pattern's highest to lowest points. On the downside, support is anticipated at $0.4 and $0.35, respectively.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.