Ripple XRP/USD are trading at 0.3096 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $13 403 582 569. Moving averages indicate the presence of a short-term downward trend for Ripple. At the moment, we should expect an attempt to raise the digital asset rate and test the resistance level near the 0.3215 area. Further, the continued fall of the cryptocurrency to the area below the level of 0.2365 as part of the development of the «Triangle» model.
Ripple Forecast and XRPUSD Analysis August 8, 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 upper 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 0.3455. This will indicate a breakdown of the upper border of the downward channel and continued growth of XRP/USD to the area above the level of 0.3695. A confirmation of the fall in the digital currency will be a breakdown of the support area and closing below 0.2775. In this case, we should expect acceleration of the development of the bearish trend in Ripple.
Ripple Forecast and XRPUSD Analysis August 8, 2019 suggests an attempt to test the resistance level near the 0.3215 area. Where can we expect the cryptocurrency to continue to fall with a potential target of 0.2365. 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 area of 0.3455. In this case, we should expect continued development of the upward trend in digital currency with a target above 0.3695.
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