Ripple Forecast and XRP/USD Analysis November 8, 2019

XRP/USD are trading at 0.2859 and continue to move as part of the correction. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $12 533 191 942. Moving averages indicate the presence of a short-term bullish trend for Ripple. Prices fell below the level of signal lines, which indicates a pressure from sellers. At the moment, we should expect an attempt to correct the digital asset and a test of the support level near the 0.2615 area. Further, the continued growth of cryptocurrency in the region above the level of 0.3485.

Ripple Forecast and XRP/USD Analysis November 8, 2019

In favor of the growth of XRP/USD quotes, a test of the ascending trend line on the relative strength index (RSI) will come out. The second signal in favor of raising asset quotes will be a rebound from the lower boundary of the ascending channel. Cancellation of the cryptocurrency growth option will be the fall and closing of quotes below the level of 0.2425. This will indicate a breakdown of the support area and continued decline of XRP/USD to the area below the level of 0.2005. A confirmation of the growth of the digital currency will be a breakdown of the upper border of the downward channel and closing above the level of 0.3135. In this case, we should expect acceleration of the development of the bull trend of Ripple.

Ripple Forecast and XRP/USD Analysis November 8, 2019 implies an attempt to test the support level near the 0.2615 area. Where can we expect continued growth of the cryptocurrency with a potential target at the level of 0.3485. 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 0.2425 area. In this case, we should expect continued development of the decline in digital currency with a target below 0.2005.

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