XRP/USD are trading at 0.2505 and continue to move as part of the decline and the beginning of the development of the «Triangle» model. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $10 982 645 671. Moving averages indicate the presence of a short-term downward trend for Ripple. At the moment, we should expect an attempt to correct the course of the digital asset and test the resistance level near the 0.2550 area. Further, the continuation of the fall of cryptocurrency to the area below the level of 0.2015.
Ripple Forecast and XRP/USD Analysis August 29, 2019
In favor of reducing the 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 quotes will be a rebound from the lower 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 0.2715. This will indicate a breakdown of the upper boundary of the model and continued growth of XRP/USD to the area above the level of 0.3005. A confirmation of the fall in the digital currency will be a breakdown of the support area and closing below 0.2365. In this case, we should expect acceleration of the development of the bearish trend in Ripple.
Cryptocurrency Ripple forecast for August 29, 2019 implies an attempt to test the resistance level near the 0.2550 area. Where can we expect the cryptocurrency to continue to fall with a potential target at 0.2015. 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 of falling quotes will be a strong growth and a breakdown of the 0.2715 area. In this case, we should expect continued development of the upward trend in digital currency with a target above 0.3005.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
