Ripple (XRP/USD) technical analysis May 17, 2018


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Ripple XRP/USD traded at 0.66 and continue to move in a bearish trend. At the moment, we should expect an attempt to test the resistance area near the level of 0.71 and continue the fall of the cryptocurrency in the area below the level of 0.47.

Ripple (XRP/USD) technical analysis May 17, 2018

In favor of falling quotations XRP/USD will come the test of the bearish trendline on the indicator of relative strength index (RSI). Cancellation of the fall option will be a breakdown of the resistance level and a close above 0.80, which indicates the breakdown of the upper border of the channel and the continuation of the growth of XRP/USD in the area above the level of 0.70. With the breakdown of the support area and the closing below the level of 0.58, one should expect a confirmation of the development of the bearish trend for Ripple.

Ripple (XRP/USD) technical analysis May 17, 2018

Ripple (XRP/USD) technical analysis May 17, 2018 suggests a test of the resistance level near 0.71, from which it is expected to drop a cryptocurrency with a potential target at 0.47, an additional signal in favor of the Ripple decline is the trend line test on the relative strength index (RSI).


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