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Ripple has a neutral short-term trading bias, with the cryptocurrency currently flatlined around its 200-period moving average on the four-hour time frame
The four-hour time frame continues to a show the XRP / USD pair trading within a bullish pattern
The cryptocurrency’s medium-term outlook is bearish, with the daily time frame showing the XRP / USD pair stuck at the bottom of a symmetrical triangle
Ripple / USD Short-term price analysis
Ripple has a neutral short-term trading bias, with the popular cryptocurrency flatlined around its 200-period moving average on the four-hour time frame.
The large inverted head and shoulders pattern on the four-hour time frame remains valid, with strong dip-buying demand currently seen on any pullbacks towards the 0.3000 level.
Technical indicators on the four-hour time frame are also highlighting tight range-bound trading conditions, with both the RSI and MACD trading at neutral levels.
XRP / USD H4 Chart (Source: TradingView)
Pattern Watch
Traders should watch for a sustained bullish breakout above the 0.3470 level, as it represents the neckline of the inverted head and shoulders pattern.
MACD Indicator
The MACD indicator is neutral on the four-hour time frame and is currently failing to generate any trading signal.
Relative Strength Index
The Relative Strength Index on the mentioned time frame is also flatlined around the neutral line.
Ripple / USD Medium-term price analysis
Ripple retains a bearish medium-term outlook, with the cryptocurrency trading well below its key 200-day moving average and also failing to rally price away from critical trendline support on the daily time frame.
The daily time frame clearly shows the XRP / USD pair trading at the bottom of a triangle pattern, with the neutral pattern holding a potential downside projection of around $30.00.
Technical indicators on the daily time frame remain neutral and largely mirror the four-hour time frame.
XRP / USD Daily Chart (Source: TradingView)
Pattern Watch
Traders should continue to monitor the triangle pattern on the daily time frame, with key trendline support found close to the 0.3000 level.
MACD Indicator
The MACD indicator on the daily time frame is currently flat and providing no clear trading signal.
Relative Strength Index
The RSI Indicator on the mentioned time frame remains neutral as the XRP / USD pair struggles to find direction.
Conclusion
Ripple continues to trade towards the lower end of its recent range with the cryptocurrency struggling to find a clear directional bias.
The presence of a bullish inverted head and shoulders on the four-hour time frame and strong dip-buying demand around the 0.3000 level are currently offering short-term bulls a glimmer of hope.
Medium-term bulls desperately need to rally the cryptocurrency away from trendline support or the XRP / USD pair could eventually succumb to heavy technical selling below the triangle pattern.
Confused between Ripple, XRP and the difference between them? Our coin guide explains all the basics of the project
XRP Chart
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