XRP/USD are trading at 0.2902 and continue to move as part of the correction and the formation of the «Triangle» model. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $12 665 158 421. Moving averages indicate the presence of a short-term bullish trend for Ripple. At the moment, we should expect an attempt to depreciate the digital asset and a test of the support level near the 0.2805 area. Further, the continued growth of cryptocurrency in the region above the level of 0.3235.
Ripple Forecast and XRP/USD Analysis October 22, 2019
In favor of reducing the XRP/USD quotes, a test of the upward 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 to raise cryptocurrency will be the fall and closing of quotations below the level of 0.2655. This will indicate a breakdown of the support area and the continuation of the fall of XRP/USD to the area below the level of 0.2405. A confirmation of the growth of the digital currency will be a breakdown of the resistance level and closing above the level of 0.3005. In this case, we should expect acceleration of the development of the bull trend in Ripple and the beginning of the development of the «Triangle» model.
Ripple Forecast and XRP/USD Analysis October 22, 2019 suggests an attempt to test the support level near the 0.2805 area. Where can we expect continued growth of the cryptocurrency with a potential target at the level of 0.3235. 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 option of growth of quotes will be a fall and a breakdown of the area of 0.2655. In this case, we should expect continued development of the decline in digital currency with a target below 0.2405.