XRP/USD are trading at 0.2425 and continue to move as part of the fall and the formation of the “Wedge” pattern. Cryptocurrency capitalization Ripple at the time of the publication of the forecast is $11 079 200 431. Moving averages indicate a short-term bearish trend for Ripple. Prices are testing the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall. At the moment, we should expect an attempt to continue the development of the downward correction of the digital asset and test the support level near the 0.2235 area. Further, an upward rebound and continued growth of the cryptocurrency to the area above the level of 0.3155.
Ripple Forecast and XRP/USD Analysis September 16, 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 asset quotes growth will be a rebound from the lower boundary of the “Wedge” model. Cancellation of the growth option for the cryptocurrency will be the fall and closing of quotations below the level of 0.1885. This will indicate a breakdown of the support area and a continued fall in XRP/USD to an area below the level of 0.1545. Confirmation of the growth of the digital currency rate will be a breakdown of the resistance area and a close above the level of 0.2625, which will indicate a breakdown of the upper boundary of the “Wedge” model.
Ripple Forecast and XRP/USD Analysis September 16, 2020 implies an attempt to test the support level near the 0.2235 area. Where can we expect cryptocurrency growth to continue with a potential target at the level of 0.3155. 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 0.1885 area. In this case, we should expect the continuation of the development of the decline in the digital currency with a target below 0.1545.
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