XRP/USD are trading at 0.4204 and continue to move as part of the fall and left the bullish channel. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $21,038,202,606. Moving averages indicate the presence of a short-term bullish trend for Ripple. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the asset and a potential continuation of the fall in the XRP rate on the market already from current levels. At the moment, we should expect an attempt to develop a bullish correction of the asset and a test of the resistance level near the 0.4445 area. Further, a rebound down and the continuation of the fall of the cryptocurrency to the area below the level of 0.3505.
XRP Forecast and Analysis September 29, 2022
In favor of falling XRP/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal in favor of a decrease in asset quotes will be a rebound from the lower border of the bullish channel, which was broken down. Cancellation of the cryptocurrency fall option will be a strong growth and closing of quotes above the level of 0.5095. This will indicate a breakdown of the resistance area and continued growth of XRP/USD to the area above the level of 0.6405. A confirmation of the fall in the rate of the digital currency will be a breakdown of the support area and the closing of prices below the level of 0.3805.
XRP Forecast and Analysis September 29, 2022 suggests an attempt to test the support level near the area of 0.4445. Where should we expect the continued growth of the cryptocurrency with a potential target at the level of 0.3505. An additional signal in favor of the rise of Ripple will be a test of the bullish trend line on the relative strength index (RSI). Cancellation of the growth option for quotes will be a fall and a breakdown of the 0.5095 area. In this case, we should expect a continued decline in the digital currency with a target below 0.6405.
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