XRP/USD are trading at 1.7286 and continue to move as part of the correction and the formation of the “Triangle” pattern. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $77,378,491,109. Moving averages indicate a short-term bullish trend for Ripple. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the XRP rate growth in the market already from current levels. At the moment, we should expect an attempt to develop a downward correction of the asset and a test of the support level near the area of 1.7055. Further, an upward rebound and a continuation of the rise of the cryptocurrency to the area above the level of 2.2105.
Ripple Forecast and XRP/USD Analysis April 16, 2021
In favor of raising the XRP/USD quotes, a test of the rising trend line on the relative strength index (RSI) will come out. The second signal in favor of the growth of asset quotes will be a rebound from the lower border of the “Triangle” model. Cancellation of the cryptocurrency growth option will be the fall and closing of quotations below the level of 1.5285. This will indicate a breakdown of the support area and a continued decline in XRP/USD to the area below 1.2705. A confirmation of the rise in the digital currency rate will be a breakdown of the resistance area and a close above the level of 2.0155, which will indicate a breakdown of the “Triangle” model.
Ripple Forecast and XRP/USD Analysis April 16, 2021 imply an attempt to test the support level near the 1.7055 area. Where can we expect the cryptocurrency to continue to rise with a potential target at the level of 2.2105. An additional signal in favor of the growth of Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to raise quotes will be a fall and a breakdown of the 1.5285 area. In this case, we should expect a continuation of the decline in the rise in digital currency with a target below 1.2705.
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