XRP/USD are trading at 0.2349 and continue to move within the fall and the downtrend channel. Ripple cryptocurrency capitalization at the time of the publication of the forecast is $ 10,683,381,515. Moving averages indicate a short-term bearish trend for Ripple. Prices have broken down between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the XRP rate decline in the market already from current levels. At the moment, we should expect an attempt to develop a bullish correction of a digital asset and a test of the resistance level near the 0.2435 area. Further, a rebound down and the continuation of the fall of the cryptocurrency to the area below the level of 0.2155.
Ripple Forecast and XRP/USD Analysis November 3, 2020
A test of the trend line on the relative strength index (RSI) will be in favor of falling XRP/USD quotes. The second signal in favor of a decline in asset prices will be a rebound from the upper border of the descending channel. Cancellation of the option of falling cryptocurrency will be a strong growth and closing of quotations above the level of 0.2525. This will indicate a breakdown of the resistance area and continued growth of XRP/USD to the area above the level of 0.2865. Confirmation of the fall in the digital currency rate will be a breakdown of the support area and closing below 0.2245.
Ripple Forecast and XRP/USD Analysis November 3, 2020 implies an attempt to test the resistance level near the 0.2435 area. Where can we expect the cryptocurrency to continue falling with a potential target at the level of 0.2155. 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 quotations will be a strong growth and a breakdown of the 0.2525 area. In this case, we should expect the continued development of growth in digital currency with a target above 0.2865.
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