XRP Technical Analysis: Trend Ready To Outgrow Symmetrical Triangle

The XRP coin price fills up the symmetrical triangle pattern formation in the daily chart, increasing the chances of a breakout-driven trend. Key technical points: XRP coin price is soon to outgrow the triangle pattern. The altcoin price moves along the 50-day EMA. The 24-hour trading volume of Ripple is $2.09 Billion, marking a 20% fall. Past Performance of XRP The XRP coin price takes support at the ascending trendline of the triangle pattern, indicating the possibility of a bullish reversal. However, the bottled-up triangle pattern may fail to hold the bullish reversal, but the 3.84% bearish candle diminishes the case of a high momentum reversal. Source-Tradingview XRP Technical Analysis XRP coin price is ready to dump the carcass of the symmetrical triangle and bring a breakout rally. However, sideways movement over the weeks demands a surge in trading volume for a reliable breakout trend. The flattish 50-day EMA moves along with the choppy price action indicate a trapped trend momentum. Hence, a potential upside breakout can result in a rally to the 200-day EMA. RSI Indicator: The RSI slope imitates the flat price action near the 50% mark with no significant divergence in the picture. Therefore, a surge at any side will provide a trading opportunity. Stochastic RSI Indicator: The K and D lines rise higher after undermining the choppiness near the central line. However, the strings indicate a potential bearish crossover wh...