Ripple XRP/USD are trading at 0.3167 and continue to move as part of the upward correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $13 771 797 416. Moving averages indicate a short-term downward trend in Ripple. At the moment, we should expect an attempt to grow and test the resistance level near the area of 0.3215. Further, the continuation of the fall of cryptocurrency in the area below the level of 0.2380.
Ripple Forecast and XRP/USD Analysis August 1, 2019
In favor of reducing the XRP/USD quotes, a test of the downward trend line on the relative strength indicator will come out. The second signal in favor of the fall of the quotations of the digital asset will be a rebound from the upper limit of the «Triangle» model. Cancellation of the option to reduce cryptocurrency will be a strong growth and closing of quotations above the level of 0.3355. This will indicate a breakdown of the upper boundary of the downward channel and continued growth of XRP/USD in the region above the level of 0.3645. Confirmation of the fall of the digital currency rate will be the breakdown of the support area and the closing below the level of 0.2775. In this case, we can expect an acceleration of the development of the bearish trend by Ripple.
Ripple Forecast and XRP/USD Analysis August 1, 2019 involves an attempt to test the resistance level near the 0.3215 area. Where can we expect the continuation of the fall of cryptocurrency with a potential goal at the level of 0.2380. An additional signal in favor of reducing Ripple will be a test of the trend line on the indicator of relative strength. Cancellation of the option of falling quotations will be a strong growth and the breakdown of the area of 0.3355. In this case, we should expect the continuation of the development of the upward trend in digital currency with a target above 0.3645.
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