XRP/USD are trading at 0.2649 and continue to move as part of a strong fall and the start of development of the «Triangle» model. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $11 693 925 380. Moving averages indicate the presence of a short-term bullish trend for Ripple, which is nearing completion. At the moment, we should expect an attempt to increase the digital asset rate and test the resistance level near the 0.2715 area. Further, the continuation of the fall of cryptocurrency to the area below the level of 0.2215.
Ripple Forecast and XRP/USD Analysis October 24, 2019
In favor of reducing the XRP/USD quotes, a test of the broken trend line on the relative strength index (RSI) will come out. The second signal in favor of falling asset quotes will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the option of falling cryptocurrency will be a strong growth and closing of quotations above the level of 0.2975. This will indicate a breakdown of the resistance area and continued growth of XRP/USD to the area above the level of 0.3305. The breakdown of the digital currency will be confirmed by the breakdown of the support level and closing below 0.2365. In this case, we should expect acceleration of the development of the Ripple bearish trend.
Ripple Forecast and XRP/USD Analysis October 24, 2019 implies an attempt to test the resistance level near the 0.2715 area. Where can we expect the cryptocurrency to continue to fall with a potential target at 0.2215. An additional signal in favor of the fall of Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to reduce quotes will be a strong growth and a breakdown of the 0.2975 area. In this case, we should expect continued development of the rise in digital currency with a target above 0.3305.
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