XRP/USD aare traded at 0.2429 and continue to move as part of the correction and the formation of the ”Triangle” pattern. Cryptocurrency capitalization Ripple at the time of the publication of the forecast is $11 056 074 057. Moving averages indicate a short-term bullish trend for Ripple. Prices are testing the area between the signal lines, which indicates pressure from buyers of the asset and potential continued growth. 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 0.2385 area. Further, an upward rebound and continued growth of the cryptocurrency to the area above the level of 0.2655.
Ripple Forecast and XRP/USD Analysis September 29, 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 growth of asset quotes will be a rebound from the lower border of the ”Triangle” model. Cancellation of the growth option for cryptocurrency will be the fall and closing of quotations below the level of 0.2255. This will indicate a breakdown of the support area and a continued fall in XRP/USD to an area below the level of 0.1945. A confirmation of the growth of the digital currency rate will be a breakdown of the resistance area and a close above the level of 0.2555, which will indicate a breakdown of the upper border of the ”Triangle” model and the beginning of this pattern.
Ripple Forecast and XRP/USD Analysis September 29, 2020 implies an attempt to test the support level near the 0.2385 area. Where can we expect cryptocurrency growth to continue with a potential target at the level of 0.2655. 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 0.2255 area.
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