XRP/USD are trading at 0.2380 and continue to move as part of the correction and the formation of the «Triangle» model. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $10 608 768 200. Moving averages indicate the presence of a short-term lateral trend for Ripple. Prices have pierced the area between the signal lines up, which indicates pressure from buyers of the asset. At the moment, we should expect an attempt to reduce the digital asset and test the support level near the 0.2295 area. Further, the continued growth of cryptocurrency in the region above the level of 0.2655.
Ripple Forecast and XRP/USD Analysis March 6, 2020
In favor of the growth of XRP/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal in favor of the growth of 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 0.2125. This will indicate a breakdown of the support area and continued decline of XRP/USD to the area below the level of 0.1845. A confirmation of the growth of the digital currency will be a breakdown of the upper boundary of the model and closing above the level of 0.2505. In this case, we should expect acceleration in the development of Ripple value growth.
Ripple Forecast and XRP/USD Analysis March 6, 2020 implies an attempt to test the support level near the 0.2295 area. Where can we expect cryptocurrency growth to continue with a potential target of 0.2655. 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 0.2125 area. In this case, we should expect continued development of the decline in digital currency with a target below 0.1845.
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