XRP/USD are trading at 1.0270 and continue to move as part of the correction and the formation of the ”Triangle” pattern. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $48,202,645,564. Moving averages indicate a short-term bearish trend for Ripple. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers of the asset and a potential continuation of the rise in the XRP rate in the market already from current levels. At the moment, we should expect an attempt to develop an asset rise and a test of the resistance level near the 1.1455 area. Further, a rebound downward and the continuation of the fall of the cryptocurrency to the area below the level of 0.6025.
Ripple Forecast and XRP/USD Analysis October 5, 2021
In favor of falling XRP/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal in favor of a decline in asset quotes will be a rebound from the upper border of the descending channel. Cancellation of the option of falling cryptocurrency will be a strong growth and closing of quotations above the level of 1.3005. This will indicate a breakdown of the resistance area and a continued rise in XRP/USD to the area above the level of 1.3755. Confirmation of the fall in the digital currency rate will be a breakdown of the support area and closing below 0.7005, which will indicate a breakdown of the support area.
Ripple Forecast and XRP/USD Analysis October 5, 2021 implies an attempt to test the resistance level near the 1.1455 area. Where can we expect the cryptocurrency to continue falling with a potential target at the level of 0.6025. An additional signal in favor of a decline in Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling quotations will be a strong growth and a breakdown of the 1.3005 area. In this case, we should expect a continuation of the rise in the digital currency with a target above 1.3755.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
