Ripple XRP/USD are trading at 0.3116 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $13 532 811 055. Moving averages indicate the presence of a short-term downward trend for Ripple. At the moment, we should expect an attempt to raise the digital asset rate and test the resistance level near the 0.3210 area. Further, the continued fall of the cryptocurrency into the region below the level of 0.2390 as part of the start of the development of the «Triangle» model.
Ripple Forecast and XRP/USD Analysis August 2, 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 falling asset quotes will be a rebound from the upper boundary 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. A confirmation of the fall in the digital currency will be a breakdown of the support area and closing below 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 2, 2019 implies an attempt to test the resistance level near the 0.3210 area. Where can we expect the continuation of the fall of cryptocurrency with a potential goal at the level of 0.2390. 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.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
