Ripple XRP/USD traded at 0.2925 and continue to move in the framework of the decline and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $12 578 594 572. Moving averages indicate a short-term downward trend in Ripple. At the moment, we should expect an attempt to grow and test the resistance level near the area of 0.3030. Further, the continuation of the decline of cryptocurrency in the region below the level of 0.2525.
Ripple Forecast and XRP/USD Analysis May 10, 2019
In favor of falling XRP/USD quotes, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal in favor of falling quotes of the digital asset will be a rebound from the upper limit of the «Triangle» model. Cancellation of the option to reduce cryptocurrency will be a strong growth and closing of quotes above the level of 0.3090. This will indicate a breakdown of the resistance level and continued growth of XRP/USD to the area above the level of 0.3245. Confirmation of the depreciation will be a breakdown of the lower boundary of the «Triangle» model and closure below 0.2825. In this case, we should expect confirmation of the development of a fall by Ripple.
Ripple Forecast and XRP/USD Analysis May 10, 2019 involves an attempt to test the resistance level near the area of 0.3030. Where can we expect the continuation of the fall of cryptocurrency with a potential target at the level of 0.2525. An additional signal in favor of reducing Ripple will be a test of the trend line on the indicator of relative strength index (RSI). Cancellation of the option of falling quotes will be a strong growth and the breakdown of the area of 0.3090. In this case, we should expect the continuation of the development of the upward trend in digital currency with a target above 0.3245.
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