XRP/USD complete the trading week at the level of 0.2005 and continue to move as part of the correction and the downward channel. Moving averages indicate a bearish trend. Prices are testing the area between the signal lines, which indicates pressure from sellers and the potential drop in cryptocurrency from current levels. At the moment, we should expect an attempt to develop growth and test the resistance area near 0.2295. Where again we should expect a rebound and continued fall of the cryptocurrency to the area below the level of 0.0955.
XRP Forecast and Analysis XRP/USD June 8 — 12, 2020
An additional signal in favor of lowering XRP/USD quotes in the current trading week June 8 — 12, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall option of the Ripple cryptocurrency will be a strong price increase and a breakdown of the 0.2855 area. This will indicate a breakdown of the resistance area and continued growth of XRP/USD quotes with a target above the level of 0.3505. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the area of 0.1565.
XRP Forecast and Analysis XRP/USD June 8 — 12, 2020 suggests an attempt to test the resistance level near the 0.2295 area. Where can we expect the continuation of the fall in quotations with a potential target at the level of 0.0955. An additional signal in favor of reducing the cost of Ripple will be a test of the trend line on the relative strength index (RSI). The cancellation of the option of falling cryptocurrency will be a breakdown of the 0.2855 area. This will indicate continued growth with a target above the level of 0.3505.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
