XRP/USD are trading at 0.1879 and continue to move as part of the fall and the beginning of the development of the «Triangle» model. Cryptocurrency capitalization Ripple at the time of the publication of the forecast is $8 466 790 631. Moving averages indicate a short-term bullish trend for Ripple. Prices have broken the area between the signal lines down, which indicates pressure from the sellers of the asset and a potential continuation of the fall. At the moment, we should expect an attempt to develop a bullish correction of a digital asset and a test of the resistance level near the 0.1925 area. Further, the continuation of the fall of cryptocurrency to the area below the level of 0.1665.
Ripple Forecast and XRP/USD Analysis July 17, 2020
In favor of the fall in XRP/USD quotes, a test of a downward trend line on the relative strength index (RSI) will come out. The second signal in favor of a decline in asset quotes will be a rebound from the lower border of the «Triangle» model, which the bears have successfully broken down. Cancellation of the option of falling cryptocurrency will be a strong growth and closing of quotations above the level of 0.2045. This will indicate a breakdown of the resistance area and continued growth of XRP/USD to the area above the level of 0.2345. Confirmation of the fall in the digital currency rate will be the breakdown of the support area and the close below the level of 0.1785. In this case, we should expect acceleration of the development of the fall in the value of Ripple.
Ripple Forecast and XRP/USD Analysis July 17, 2020 implies an attempt to test the resistance level near the 0.1925 area. Where can we expect the cryptocurrency to continue to fall with a potential target at 0.1665. 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 quotations will be a strong growth and a breakdown of the 0.2045 area. In this case, we should expect the continuation of the development of the rise in digital currency with a target above 0.2345.
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