XRP/USD are trading at 0.2431 and continue to move as part of the fall and the formation of the bullish “Wolfe Wave” pattern. This pattern implies a rebound from the lower border of the model and continued growth to the upper border. Cryptocurrency capitalization Ripple at the time of the publication of the forecast is $10 985 804 661. 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 0.2195 area. Further, an upward rebound and continued growth of the cryptocurrency to the area above the level of 0.3075.
Ripple Forecast and XRP/USD Analysis September 22, 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 “Wolfe Wave” model. Cancellation of the growth option for cryptocurrency will be the fall and closing of quotations below the level of 0.1825. This will indicate a breakdown of the support area and a continued fall in XRP/USD to the area below the level of 0.1515. Confirmation of the growth of the digital currency rate will be a breakdown of the resistance area and a close above the level of 0.2735, which will indicate a breakdown of the upper boundary of the “Wolfe Wave” model and the beginning of the development of this pattern.
Ripple Forecast and XRP/USD Analysis September 22, 2020 implies an attempt to test the support level near the 0.2195 area. Where can we expect cryptocurrency growth to continue with a potential target at the level of 0.3075. 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 0.1825 area. In this case, we should expect the continuation of the development of the decline in the digital currency with a target below 0.1515.
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