On July 5, 2019, the XRP price reached a low of $0.374. An upward move ensued. The next day, XRP briefly spiked to $0.41. Since then, it has been gradually decreasing.

XRP Price: Trends and Highlights for July 10
- XRP/USD is trading inside a symmetrical triangle.
- It is following a long-term ascending support line.
- Short-term moving averages are bearish.
- Long-term moving averages are bullish.
XRP Price in a Symmetrical Triangle
The XRP price has been trading inside a symmetrical triangle since reaching a high above $0.415 on July 1. The aforementioned low reached on July 5 marks the beginning of the support line of the triangle.

Support Line
A look at the daily time-frame shows that the XRP price has been following an ascending support line since May 16.


Summary
The XRP price is trading inside a short-term symmetrical triangle and is following a long-term ascending support line. The short-term moving averages are bearish, while long-term ones are bullish. According to our analysis, the price is not likely to break down from the long-term ascending support line. Do you think the XRP price will reach a new yearly high? Let us know in the comments below.Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. Images are courtesy of Shutterstock, TradingView.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.
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