XRP/USD are trading at 0.2797 and continue to move as part of the correction and the formation of the «Triangle» pattern. Cryptocurrency capitalization Ripple at the time of the publication of the forecast is $12 602 342 751. Moving averages indicate a short-term bullish trend for Ripple. Prices are testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise. At the moment, we should expect an attempt to develop a correction of a digital asset and a test of the support level near the 0.2735 area. Further, the cryptocurrency will continue to grow to the area above the level of 0.3805.
Ripple Forecast and XRP/USD Analysis August 26, 2020
A test of the rising trend line on the relative strength index (RSI) will be in favor of raising the XRP/USD quotes. The second signal in favor of the growth of asset quotes will be a rebound from the lower border of the ascending channel. Cancellation of the growth option for the cryptocurrency will be the fall and closing of quotations below the level of 0.2305. This will indicate a breakdown of the support area and a continued fall in XRP/USD to an area below the level of 0.1925. Confirmation of the growth of the digital currency rate will be a breakdown of the resistance area and closing above the level of 0.3365. In this case, one should expect the acceleration of the development of the rise in the value of Ripple and the beginning of the development of the «Triangle» model.
Ripple Forecast and XRP/USD Analysis August 26, 2020 implies an attempt to test the support level near the 0.2735 area. Where can we expect cryptocurrency growth to continue with a potential target at the level of 0.3805. 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 0.2305 area. In this case, we should expect the continuation of the development of the decline in the digital currency with a target below 0.1925.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link