XRP/USD are trading at 0.2419 and continue to move within a strong correction and an upward channel. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $ 10,741,678,709. Moving averages indicate a short-term bullish trend for Ripple. Prices broke up between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the XRP rate growth 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 0.2325 area. Further, an upward rebound and continued growth of the cryptocurrency to the area above the level of 0.2805.
Ripple Forecast and XRP/USD Analysis October 30, 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 upper border of the descending channel. Cancellation of the cryptocurrency growth option will be the fall and closing of quotations below the level of 0.2155. This will indicate a breakdown of the support area and a continued fall in XRP/USD to an area below the level of 0.1935. Confirmation of the growth of the digital currency rate will be a breakdown of the resistance area and closing above the level of 0.2695.
Ripple Forecast and XRP/USD Analysis October 30, 2020 implies an attempt to test the support level near the 0.2325 area. Where can we expect the cryptocurrency to continue growing with a potential target at the level of 0.2805. 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 0.2155 area. In this case, we should expect the continued development of the decline in the digital currency with a target below 0.1935.
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