XRP technical analysis May 30, 2024

XRP (XRP) has been clinging to the moving averages for the past few days, showing a lack of active buying or selling activity by traders.

If the price declines and sustains below the moving averages, the XRP/USDT pair could slide to the support line. If the price bounces strongly from the support line, the bulls will make one more attempt to push the pair above $0.57. If they succeed, the ascending triangle pattern will be complete.

On the other hand, a breakout and close below the support line would invalidate the triangle and open the door for a drop to the critical support at $0.46.