Ripple XRP/USD is trading at 2.72. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bullish trend for Ripple. The test area of the Ichimoku Kinko Hyo signal lines near the level of 2.65 is expected, from which one should expect a rebound and an attempt to continue the growth of the cryptocurrency with the target close to 3.65.
Ripple forecast & analysis XRP/USD on January 8, 2018
An additional signal in favor of the growth of the crypto currency will be a test of the bottom channel. Earlier, a strong signal was received for buy of Ripple cryptocurrency, due to the crossing of signal lines at the level of 0.9670. Cancellation of the variant of growth of quotations Ripple will be a breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotations below the area of 2.30, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations of cryptocurrency XRP/USD is at breakdown level 2.93.
An additional signal in favor of the growth of the cryptocurrency is the formation of the depraved «Head and Shoulders» model. In this case, you should expect a test of 2.65 level and continue the growth in the area above the level of 3.65. Canceling the formation of the reversal model will be a breakdown of the area 2.20.