Ripple XRP/USD is trading at 0.4221. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ripple. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 0.4250, where we expect a rebound and an attempt to continue the fall of the XRP/USD cryptocurrency with the target close to the level of 0.3750.
Ripple forecast & analysis XRP/USD August 6, 2018
An additional signal in favor of reducing the XRP/USD cryptocurrency will be a test of the resistance area, as well as a test of the upper boundary of the bearish channel. Earlier, a strong signal was received for sell of Ripple cryptocurrency, due to the crossing of signal lines at the level of 0.4335.
Cancellation of the fall of the Ripple cryptocurrency will result in strong growth and breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the 0.4400 area, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect the acceleration of the fall in quotes XRP/USD stands with the breakdown of the lower limit of the model «Triangle» and the closing below the level of 0.4050.
Ripple forecast & analysis XRP/USD August 6, 2018 suggests an attempt to correct the cryptocurrency and the 0.4250 test, from which it is expected to continue the fall of the Ripple exchange rate with the potential target near the 0.3750 level, the cancellation of the decline option will cause a strong growth and breakdown of the area of 0.4400.