XRP Price Analysis - August 24, 2018
At the time of writing, XRP price is currently sitting at $0.316
Similar to its siblings, XRP has been on a downtrend established on August 18th. However, its price swings have been more noticeably contracting since then, and one could actually make an argument for a descending triangle for XRP here. That wouldn't be a good sign...but, as always, let's wait and see how XRP behaves around $0.31...
On the upside, if XRP can hold $0.31 and gather enough momentum, first we'd look to see if it can break above the trend line and above that, hopefully we'll see another test of $0.35. If it manages a clean break above that level, then $0.37 might soon follow after. On the downside, and if XRP can't manage to hold $0.31, we could expect a spike down to $0.30 before another bounce there but if not, next level to watch would be $0.28.
On the daily chart for XRP, technical indicators give a worsening bearish outlook (14 sell, 10 neutral, 2 buy)
On the weekly chart for XRP, technical indicators also give a deteriorating bearish outlook (11 sell, 10 neutral, 1 buy)
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