XRP/USD are trading at 0.2725 and continue to move as part of the decline. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $11 972 244 781. Moving averages indicate the presence of a short-term bearish trend for Ripple. Prices have failed pushing away from signal lines, which indicates a pressure from sellers. At the moment, we should expect an attempt to correct the digital asset and test the resistance level near the 0.2805 area. Further, the continued fall of cryptocurrency to an area below the level of 0.2425.
Ripple Forecast and XRP/USD Analysis November 12, 2019
In favor of reducing the XRP/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. The second signal in favor of falling asset quotes will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling cryptocurrency will be a strong growth and closing of quotations above the level of 0.3015. This will indicate a breakdown of the resistance area and continued growth of XRP/USD to the area above the level of 0.3655. A confirmation of the fall in the digital currency will be a breakdown of the support area and closing below 0.2550. In this case, we should expect acceleration of the development of the downward trend of Ripple.
Ripple Forecast and XRP/USD Analysis November 12, 2019 implies an attempt to test the resistance level near the 0.2805 area. Where can we expect the cryptocurrency to continue to fall with a potential target of 0.2425. An additional signal in favor of reducing Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling quotes will be a strong growth and a breakdown of the area of 0.3015. In this case, we should expect continued development of growth in digital currency with a target above 0.3655.