Ripple XRP/USD traded at 0.4135 and continue to move within a bearish trend. At the moment, we should expect an attempt to test the resistance area near the level of 0.4455 and continue the decline of the cryptocurrency in the area below the level of 0.4165.
Ripple (XRP/USD) technical analysis August 7, 2018
In favor of falling quotations XRP/USD will perform a test of the broken line on the indicator of relative strength index (RSI). The abolition of the cryptocurrency reduction option will be a strong growth and breakdown of the upper limit of the «Triangle» model and the closing of quotations above 0.4370, which indicates the breakdown of the upper limit of the model and the continued growth of XRP/USD to the area above 0.4650. With the breakdown of the support area and the closing below the level of 0.4050, it is expected to accelerate the development of the bearish trend for Ripple.
Ripple (XRP/USD) technical analysis August 7, 2018 suggests a test of the resistance level near the area of 0.4455, from which it is expected to continue falling of the cryptocurrency with a potential target at 0.4165, an additional signal in favor of the Ripple drop will be the resistance area test on the relative strength index (RSI).