Ripple Forecast and XRP/USD Analysis August 28, 2020

XRP/USD are trading at 0.2555 and continue to move as part of the correction and the downward channel. Cryptocurrency capitalization Ripple at the time of the publication of the forecast is $11 733 797 406. Moving averages indicate a short-term bearish trend for Ripple. Prices moved down from the area between the signal lines, which indicates pressure from sellers of the asset and a potential continuation of the fall. At the moment, we should expect an attempt to develop a bullish correction of a digital asset and a test of the resistance level near the 0.2685 area. Further, the continuation of the fall of the cryptocurrency to the area below the level of 0.2245.

Ripple Forecast and XRP/USD Analysis August 28, 2020

In favor of lowering XRP/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. The second signal in favor of falling asset prices will be a rebound from the upper border of the descending channel. Cancellation of the option of falling cryptocurrency will be a strong growth and closing of quotations above the level of 0.2835. This will indicate a breakdown of the resistance area and a continued rise in XRP/USD to the area above the level of 0.1055. Confirmation of the fall in the digital currency rate will be a breakdown of the support area and closing below 0.2405.

Ripple Forecast and XRP/USD Analysis August 28, 2020 implies an attempt to test the resistance level near the 0.2685 area. Where can we expect the cryptocurrency to continue falling with a potential target at the level of 0.2245. An additional signal in favor of reducing Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to drop quotations will be a strong growth and a breakdown of the 0.2835 area. In this case, we should expect the continuation of the development of the rise in digital currency with a target above 0.3155.

Join our Telegram Channel