XRP/USD are traded at 0.1965 and continue to move as part of the correction and the formation of the «Triangle» pattern. Ripple cryptocurrency capitalization at the time of the publication of the forecast is $8 922 104 330. Moving averages indicate a short-term bullish trend for Ripple. Prices are testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise. 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 0.2015 area. Further, the continuation of the fall of the cryptocurrency to the area below the level of 0.1635.
Ripple Forecast and XRP/USD Analysis July 23, 2020
In favor of the fall in 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 a decline in asset quotes will be a rebound from the upper border of the «Triangle» model. Cancellation of the option of falling cryptocurrency will be a strong growth and closing of quotations above the level of 0.2035. This will indicate a breakdown of the resistance area and continued growth of XRP/USD to the area above the level of 0.2405. Confirmation of the fall in the digital currency rate will be the breakdown of the support area and the close below the level of 0.1905. In this case, we should expect the acceleration of the development of the fall in the value of Ripple and the beginning of the development of the «Triangle» model.
Ripple Forecast and XRP/USD Analysis July 23, 2020 suggests an attempt to test the resistance level near the 0.2015 area. Where can we expect the cryptocurrency to continue falling with a potential target at the level of 0.1635. An additional signal in favor of a decline in 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 0.2035 area. In this case, we should expect the continuation of the development of the rise in digital currency with a target above 0.2405.
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