Ripple XRP/USD is trading at 1.18. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ripple. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the level of 1.25 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with the target close to 0.65.
Ripple forecast & analysis XRP/USD on January 23, 2018
Earlier, a medium strength signal was obtained for sell of Ripple cryptocurrency, due to the crossing of signal lines at 1.34. 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 quotations above the area of 1.65, which will indicate the change of the bearish tendency in favor of the bullish trend. Expect to accelerate the fall of quotations of crypto currency is worth a breakdown of the support level and closing below 0.95.
However, we should not exclude the attempt to form the reversal model «Head and Shoulders». In this case, with the breakdown of the «Neckline» and the closing above the level of 1.65, one should expect the continuation of the Ripple quotations growth with the potential target of working at the level of 2.80. Canceling the model will be a breakdown level of 0.80.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
