XRP/USD are trading at 0.3079 and continue to move within the growth and upward channel. Ripple cryptocurrency capitalization at the time of the publication of the forecast is $13 692 334 780. Moving averages indicate a short-term bullish trend for Ripple. Prices bounced off 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 0.2705 area. Further, the cryptocurrency will continue to grow to the area above the level of 0.3565.
Ripple Forecast and XRP/USD Analysis August 7, 2020
In favor of raising the XRP/USD quotes, a test of the rising trend 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 ascending channel. Cancellation of the cryptocurrency growth option will be the fall and closing of quotations below the level of 0.2355. This will indicate a breakdown of the support area and a continued fall in XRP/USD to an area below the level of 0.1975. Confirmation of the growth of the digital currency rate will be a breakdown of the resistance area and closing above the level of 0.3355. In this case, we should expect the acceleration of the development of the rise in the value of Ripple.
Ripple Forecast and XRP/USD Analysis August 7, 2020 implies an attempt to test the support level near the 0.2705 area. Where can we expect cryptocurrency growth to continue with a potential target at the level of 0.3565. 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 0.2355 area. In this case, we should expect the continuation of the development of the decline in the digital currency with a target below 0.1975.
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