XRP/USD are trading at 0.2367 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 $10 571 218 974. 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 grow a digital asset and a test of the resistance level near the 0.2515 area. Further, the continuation of the fall of cryptocurrency to the area below the level of 0.1785.
Ripple Forecast and XRP/USD Analysis February 28, 2020
In favor of reducing the XRP/USD quotes, a test of the resistance area 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 downward channel. Cancellation of the option of falling cryptocurrency will be a strong growth and closing of quotations above the level of 0.2865. This will indicate a breakdown of the resistance area and continued growth of XRP/USD to the area above the level of 0.3455. A confirmation of the depreciation of the digital currency will be a breakdown of the support area and closing below 0.2025. In this case, we should expect acceleration in the development of a decrease in the cost of Ripple.
Ripple Forecast and XRP/USD Analysis February 28, 2020 implies an attempt to test the resistance level near the 0.2515 area. Where can we expect the cryptocurrency to continue to fall with a potential target at 0.1785. 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 0.2865 area. In this case, we should expect continued development of growth in digital currency with a target above 0.3455.
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