Ripple XRP/USD is trading at 1.63. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ripple. The test area of the Ichimoku Kinko Hyo signal lines near the level of 1.75 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with the target close to 1.20.
Ripple forecast & analysis XRP/USD on January 20, 2018
Earlier, we received a weak signal for buy of Ripple cryptocurrency, due to the crossing of signal lines at 1.32 level. Cancellation of the variant of falling of quotations Ripple will become a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes above the area of 2.11, which will indicate the change of the bearish tendency in favor of the bullish trend. Expect to accelerate the fall of quotations of cryptocurrency is worth a breakdown of the support level and closing below 1.20.
However, we should not exclude the attempt to form the reversal model «Head and Shoulders». In this case, after the test of level 1.25 and with the break of the «Neckline», we should expect the continuation of the growth of quotations Ripple with the potential target of working out at the level of 2.80. Canceling the model will be a breakdown level of 0.80.
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