Ripple Forecast and XRP/USD Analysis June 9, 2020

XRP/USD are trading at 0.1998 and continue to move as part of the growth and formation of the «Triangle» model. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $8 955 606 848. Moving averages indicate the presence of a short-term lateral trend for Ripple. Prices pierced the area between the signal lines down, indicating pressure from asset sellers. At the moment, we should expect an attempt to correct the digital asset and test the support level near the area of ​​0.1905. Further, the continued growth of cryptocurrency in the region above the level of 0.2135.

Ripple Forecast and XRP/USD Analysis June 9, 2020

In favor of the growth of XRP/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal in favor of raising asset quotes will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the cryptocurrency growth option will be the fall and closing of quotes below the level of 0.1935. This will indicate a breakdown of the support area and continued decline of XRP/USD to the area below the level of 0.1645. A confirmation of the growth of the digital currency will be a breakdown of the resistance area and closing above the level of 0.2045. In this case, we should expect acceleration in the development of Ripple value growth.

Ripple Forecast and XRP/USD Analysis June 9, 2020 implies an attempt to test the support level near the area of ​​0.1905. Where can we expect continued growth of the cryptocurrency with a potential target at the level of 0.2135. 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 0.1935 area. In this case, we should expect continued development of the decline in digital currency with a target below 0.1645.

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