XRP/USD are trading at 0.2361 and continue to move within the fall and the downward channel. Ripple cryptocurrency capitalization at the time of the publication of the forecast is $ 10,734,549,217. 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 downward correction of a digital asset and a test of the support level near the 0.2265 area. Further, an upward rebound and continued growth of the cryptocurrency to the area above the level of 0.2955.
Ripple Forecast and XRP/USD Analysis November 4, 2020
In favor of raising the 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 lower border of the ascending channel. Cancellation of the option of raising the cryptocurrency will be the fall and closing of quotations below the level of 0.2130. This will indicate a breakdown of the support area and a continued fall in XRP/USD to an area below the level of 0.1825. Confirmation of the rise in the digital currency rate will be a breakdown of the resistance area and a close above 0.2705.
Ripple Forecast and XRP/USD Analysis November 4, 2020 implies an attempt to test the support level near the 0.2265 area. Where can we expect the cryptocurrency to continue growing with a potential target at the level of 0.2955. An additional signal in favor of a rise in Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for quotes will be a fall and a breakdown of the 0.2130 area. In this case, we should expect the continuation of the development of the fall in the digital currency with a target below 0.1825.
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