XRP/USD are trading at 0.2118 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 $9 451 741 548. Moving averages indicate the presence of a short-term bullish trend for Ripple. Prices are testing the area between the signal lines, which indicates pressure from the buyers of the asset. At the moment, we should expect an attempt to correct the digital asset and test the support level near the area of 0.2015. Further, the continuation of the cryptocurrency rise to the area above the level of 0.2345.
Ripple Forecast and XRP/USD Analysis May 8, 2020
In favor of the rise in XRP/USD quotes, a test of the trend 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 support area. Cancellation of the cryptocurrency growth option will be the fall and closing of quotes below the level of 0.1905. This will indicate a breakdown of the support area and a continued decline in XRP/USD to the area below the level of 0.1655. A confirmation of the growth of the digital currency will be a breakdown of the resistance area and closing above the level of 0.2215. In this case, we should expect acceleration in the development of Ripple value growth.
Ripple Forecast and XRP/USD Analysis May 8, 2020 implies an attempt to test the support level near the area of 0.2015. Where can we expect cryptocurrency growth to continue with a potential target of 0.2345. 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 area of 0.1905. In this case, we should expect continued development of the decline in digital currency with a target below 0.1655.
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