XRP/USD are trading at 1.1150 and continue to move as part of a strong correction and a bullish channel. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $52,568,193,582. Moving averages indicate a short-term bullish trend for Ripple. Prices broke down the area between the signal lines, which indicates pressure from the sellers of the asset and the potential continuation of the XRP rate decline in the market already from the current levels. At the moment, we should expect an attempt to develop a decline in the asset and a test of the support level near the 1.0705 area. Further, an upward rebound and continued growth of the cryptocurrency to the area above the level of 1.4005.
XRP Forecast and Analysis November 17, 2021
In favor of raising the XRP/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal in favor of the growth of asset quotes will be a rebound from the lower border of the bullish channel. Cancellation of the option of raising the cryptocurrency will be the fall and closing of quotations below the level of 0.9705. This will indicate a breakdown of the support area and a continued fall in XRP/USD to the area below the level of 0.8505. Confirmation of the rise in the digital currency rate will be the breakdown of the resistance area and the closing of prices above the level of 1.2405.
XRP Forecast and Analysis November 17, 2021 implies an attempt to test the support level near the 1.0705 area. Where can we expect the cryptocurrency to continue growing with a potential target at the level of 1.4005. An additional signal in favor of the rise in Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to raise quotes will be a fall and a breakdown of the 0.9705 area. In this case, we should expect a continuation of the fall in the rise in the digital currency with a target below 0.8505.
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