XRP/USD are trading at 0.6090 and continue to move as part of the fall and the beginning of the “Triangle” pattern. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $ 28,696,649,179. Moving averages indicate a short-term bearish trend for Ripple. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the asset and a potential continuation of the XRP rate decline in the market already from current levels. At the moment, we should expect an attempt to develop an asset correction and test the resistance level near the 0.6335 area. Further, a rebound downward and the continuation of the fall of the cryptocurrency to the area below the level of 0.5005.
Ripple Forecast and XRP/USD Analysis July 9, 2021
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 lower border of the “Triangle” model. Cancellation of the option to reduce the cryptocurrency will be a strong growth and closing of quotations above the level of 0.7065. This will indicate a breakdown of the resistance area and a continued rise in XRP/USD to the area above the level of 0.8105. Confirmation of the fall in the digital currency rate will be a breakdown of the support area and closing below 0.5655.
Ripple Forecast and XRP/USD Analysis July 9, 2021 imply an attempt to test the resistance level near the 0.6335 area. Where can we expect the cryptocurrency to continue falling with a potential target at the level of 0.5005. 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 to drop quotations will be a strong growth and a breakdown of the 0.7065 area. In this case, we should expect a continuation of the rise in the digital currency with a target above 0.8105.
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