Cryptocurrency Ripple (XRP/USD) is trading at 0.5215. Quotes of the cryptocurrency are traded below the level of the moving average with a period of 55, indicating a bearish trend for Ripple. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator. A test of the level of 0.5720 is expected, from which one can expect an attempt to continue to fall and further develop the downward trend with a target near the level of 0.4200.
Ripple (XRP/USD) forecast and analysis on October 6, 2018
The conservative sales area for Ripple is near the upper boundary of the Bollinger Bands indicator bars at 0.5750. Cancellation of the option to continue the fall of the XRP/USD pair will be a breakdown of the upper border area of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of the pair quotes above the 0.6000 area, indicating a change in trend in favor of the bullish for Ripple. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.