XRP/USD are trading at 0.2399 and continue to move as part of the correction after the price drop. Ripple cryptocurrency capitalization at the time of the publication of the forecast is $11,092,739,720. Moving averages indicate a short-term bearish trend for Ripple. However, 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 0.2245 area. Further, an upward rebound and continued growth of the cryptocurrency to the area above the level of 0.2915.
Ripple Forecast and XRP/USD Analysis October 21, 2020
A test of the rising trend line on the relative strength index (RSI) will be in favor of raising the XRP/USD quotes. 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 growth option for the cryptocurrency will be the fall and closing of quotations below the level of 0.2055. This will indicate a breakdown of the support area and a continued fall in XRP/USD to an area below the level of 0.1845. Confirmation of the growth of the digital currency rate will be a breakdown of the resistance area and closing above the level of 0.2595.
Ripple Forecast and XRP/USD Analysis October 21, 2020 implies an attempt to test the support level near the 0.2245 area. Where can we expect cryptocurrency growth to continue with a potential target at the level of 0.2915. An additional signal in favor of the 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 0.2055 area. In this case, we should expect the continued development of the decline in the digital currency with a target below 0.1845.
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