Ripple XRP/USD traded at 0.3180 and continue to move in the formation of the model «Triangle». Capitalization of the cryptocurrency at the time of publication of the forecast is $13 083 854 650. At this time, we should expect an attempt to test the upper limit of the «Triangle» model near the level of 0.3390 and continue the fall of the cryptocurrency into the area below the level of 0.2370.
Ripple (XRP/USD) technical analysis August 31, 2018
In favor of lowering the quotes XRP/USD will test the trend line on the indicator of relative strength index (RSI). Cancellation of the variant of the fall of the crypto currency will be a strong growth and closing of quotations above the level of 0.3650, which will indicate the breakdown of the upper limit of the «Triangle» model and the continued growth of XRP/USD to the area above 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 31, 2018 suggests an attempt to test the upper boundary of the downward channel near the area of 0.3390, from which it is expected to continue the fall of the cryptocurrency with a potential target at 0.2370, an additional signal in favor of the Ripple decline will be a resistance line test on the relative strength index (RSI), decrease in quotations will be strong growth and breakdown of the area of 0.3650, in this case it is necessary to expect the continuation of the development of the bullish trend in the digital currency.
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