The XRP course reached our correction target and we were able to record 13.5 percent price gains! Where will the XRP course go next?
https://www.youtube.com/watch?v=_4fyAdicZF8&t=91s
In the last XRP price forecast of March 27th, when the XRP price was $ 0.18145, we wrote:
“In the daily exchange rate, the death cross is still intact, which bearishly confirms the trend in the medium term. Currently, however, the XRP price has the chance to rise to resistance at the $ 0.2 mark. Between the 0.382 Fib level at $ 0.2 and the 0.5 Fib Level at $ 0.232 runs the trend line of the down channel, which also acts as resistance.
In the 4H chart, the XRP price forms a bearish price pattern, the rising wedge. Basically the XRP course is very bearish, only it has the chance to correct it upwards. It is questionable whether the XRP price can exceed the $ 0.2 mark. “
XRP price forecast – parallel upward channel!
The XRP price reached $ 0.205 and then corrected almost 16 percent down. This violent ricochet at the 0.382 Fib level stopped at the lower end of the horizontal resistance between $ 0.175 – $ 0.211 and went all within the upward channel. The XRP course is currently located directly at the 50-day EMA, which also acts as a resistance.
Only when the XRP price breaks the horizontal resistance, is there reason to believe that the XRP price could move to the golden ratio at $ 0.25.
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XRP price forecast – macro trend bearish!
In the overlying trend, the XRP price is still bearish, which is made clear by the descending trend line. Only when XRP breaks the golden ratio at $ 0.25 will the bear trend be defeated.
As long as this condition is not met, the XRP price can set itself at lower lows. The XRP course is supported between $ 0.12845 – $ 0.14628.
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XRP price forecast – bearish price pattern: the descending triangle!
Against Bitcoin, the XRP rate is in a bearish descending triangle. The XRP course is supported between 0.00002223 – 0.000025 BTC. The next significant resistances are waiting for the XRP course at 0.000029 BTC and at 0.000032 BTC.
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Constantine
Source cryptoticker.io
