XRP/USD are trading at 1.1429 and continue to move within the correction and the bullish channel. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $51,615,397,119. Moving averages indicate a short-term uptrend in Ripple. Prices are still above 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 an asset correction and a test of the support level near the 1.0455 area. Further, an upward rebound and continued growth of the cryptocurrency to the area above the level of 1.4425.
Ripple Forecast and XRP/USD Analysis August 20, 2021
In favor of raising the XRP/USD quotes, a test of the support 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 bullish channel. Cancellation of the cryptocurrency growth option will be the fall and closing of quotations below the level of 0.8405. This will indicate a breakdown of the support area and a continued fall in XRP/USD to the area below the level of 0.6505. Confirmation of the growth of the digital currency rate will be a breakdown of the resistance area and closing above the level of 1.2505.
Ripple Forecast and XRP/USD Analysis August 20, 2021 implies an attempt to test the support level near the 1.0455 area. Where can we expect the cryptocurrency to continue to grow with a potential target at the level of 1.4425. An additional signal in favor of the rise in Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for quotes will be a fall and a breakdown of the 0.8405 area. In this case, we should expect a continuation of the decline in the rise in digital currency with a target below 0.6505.
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