XRP/USD are trading at 0.2400 and continue to move as part of a strong fall and a downward channel. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $10 395 394 475. Moving averages indicate the presence of a short-term bearish trend for Ripple. Prices have gone far from the area between the signal lines, indicating pressure from sellers. At the moment, we should expect an attempt to reduce the digital asset and test the support level near the 0.2345 area. Further, the continued growth of cryptocurrency in the region above the level of 0.3215.
Ripple Forecast and XRP/USD Analysis February 27, 2020
In favor of the rise in XRP/USD quotes, a test of the support area 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 downward channel. Cancellation of the option to raise cryptocurrency will be the fall and closing of quotes below the level of 0.2155. This will indicate a breakdown of the support area and continued decline of XRP/USD to the area below the level of 0.1905. A confirmation of the growth of the digital currency will be a breakdown of the upper border of the downward channel and closing above the level of 0.2865. In this case, we should expect acceleration in the development of Ripple value growth.
Ripple Forecast and XRP/USD Analysis February 27, 2020 implies an attempt to test the support level near the 0.2345 area. Where can we expect continued growth of the cryptocurrency with a potential target at the level of 0.3215. An additional signal in favor of the Ripple rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option of quotes will be a fall and a breakdown of the 0.2155 area. In this case, we should expect continued development of the decline in digital currency with a target below 0.1905.
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