The chart of #XRPUSDT exhibits a mix of bullish and bearish signals, making it crucial to consider both perspectives when trading.
A long-term bullish signal is evident with the pennant formation following a sharp upward trend. The MACD remains positive despite fading momentum, while the RSI is near-neutral. However, this scenario can also be followed by a breakout above resistance, which would confirm continuation of the uptrend.
On the flip side, a descending triangle pattern suggests a bearish outlook, with lower highs and horizontal support. Although oversold recovery is present in the RSI, weak momentum is indicated by MACD, suggesting that breaking support may lead to further downside.
A neutral consolidation phase is also observed within a symmetrical triangle, where indecision dominates. Stable mid-levels of the RSI and weak momentum in the MACD indicate this period of stability.
When trading #XRPUSDT, it’s essential to consider these mixed signals and be prepared for any scenario. Key entry and target prices are at $2.4 and $2.35 respectively.
Source: https://www.binance.com/en/square/post/18807337352201