XRP/USD are trading at 0.4892 and continue to move as part of strong growth and left the descending channel. Ripple cryptocurrency capitalization at the time of the publication of the forecast is $ 25,770,821,034. Moving averages indicate a short-term downtrend in Ripple. However, prices broke through the area between the signal lines upward, which indicates pressure from buyers of the asset and a potential continuation of the XRP rate growth in the market already from current levels. At the moment, we should expect an attempt to develop an asset correction and test the support level near the 0.5075 area. Further, an upward rebound and continued growth of the cryptocurrency to the area above the level of 0.7245.
Ripple Forecast and XRP/USD Analysis December 18, 2020
In favor of raising the XRP/USD quotes, a test of the broken trend line on the relative strength index (RSI) will come out. The second signal in favor of the growth of the asset quotes will be the breakdown of the upper border of the descending channel, as well as the formation of the “Head and Shoulders” reversal pattern. Cancellation of the growth option for the cryptocurrency will be the fall and closing of quotations below the level of 0.4205. This will indicate a breakdown of the support area and a continued fall in XRP/USD to the area below the level of 0.3655. Confirmation of the rise in the digital currency rate will be a breakdown of the resistance area and a close above the level of 0.5975, which will indicate a breakdown of the upper border of the reversal pattern.
Ripple Forecast and XRP/USD Analysis December 18, 2020 implies an attempt to test the support level near the 0.5075 area. Where can we expect cryptocurrency growth to continue with a potential target at the level of 0.7245. An additional signal in favor of a 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 0.4205 area. In this case, we should expect the continuation of the development of the decline in the digital currency with a target below 0.3655.
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