AhmedEssa
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The chart shows a false breakout of the descending triangle pattern, followed by the price rebounding back to the upper boundary of the pattern. The currency price is currently settling near the level of 2.17. The nearest resistance levels are formed at the "50-day moving average (SMA50)" (around 2.20) and the "200-day moving average (SMA200)" (at 2.30), while the lower boundary of the triangle between 1.90 and 2.00 is considered a support area.
The Relative Strength Index (RSI) value of 49.60 indicates a neutral state reflecting a balance between buyers and sellers. Meanwhile, the MACD remains in a moderately positive area, although it is gradually declining on the histogram, suggesting weakness in the upward momentum. Based on these indicators, it is likely that the price will continue to move sideways in the near term, with a retest of the mentioned support and resistance levels.
The table below illustrates the monthly forecasts for the XRP/USD pair over the next twelve months.
The Relative Strength Index (RSI) value of 49.60 indicates a neutral state reflecting a balance between buyers and sellers. Meanwhile, the MACD remains in a moderately positive area, although it is gradually declining on the histogram, suggesting weakness in the upward momentum. Based on these indicators, it is likely that the price will continue to move sideways in the near term, with a retest of the mentioned support and resistance levels.
The table below illustrates the monthly forecasts for the XRP/USD pair over the next twelve months.
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