Ripple XRP/USD traded at 0.3391 and continue to move within the bearish channel. Capitalization of the cryptocurrency at the time of publication of the forecast is $ 13 693 121 812. At this point, we should expect an attempt to test the upper border of the channel near the level of 0.3490 and continue the fall of the cryptocurrency into the area below the level of 0.2700.
Ripple (XRP/USD) technical analysis August 29, 2018
In favor of lowering the quotations of XRP/USD, a downtrend test on the relative strength index (RSI) will perform. Cancellation of the variant of the fall of the cryptocurrency will be a strong growth and closing of quotations above the level of 0.3650, which will indicate the breakdown of the upper border of the channel and the continued growth of XRP/USD in the area above the level of 0.4500. With the breakdown of the support area and the closing below the level of 0.2950, we should expect a confirmation of the development of the bearish trend for Ripple.
Ripple (XRP/USD) technical analysis August 29, 2018 suggests an attempt to test the upper boundary of the bearish channel near the area of 0.3490, from which it is expected to continue falling of the cryptocurrency with a potential target at 0.2700, an additional signal in favor of the Ripple decline will be a test of the resistance line on the indicator of relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
