Ripple XRP/USD is trading at 0.71. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ripple. Ichimoku Kinko Hyo Cloud is expected to test near the 0.72 level, from which we expect a rebound and an attempt to continue the fall of the cryptocurrency with a target near the level of 0.55.
Ripple forecast & analysis XRP/USD May 16, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level, as well as a test of the lower boundary of the bullish channel. Earlier, a weak signal was received for buy of Ripple cryptocurrency, due to the crossing of signal lines at the level of 0.70.
Cancellation of the variant of falling quotes Ripple will be a breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo with the closing of quotes above the area of 0.80, which indicates the change of the bearish trend in favor of the bullish trend. To expect the acceleration of the fall of the Ripple cryptocurrency quotes is with the breakdown of the support area and the closing below the level of 0.65.