Cryptocurrency Ripple (XRP/USD) is trading at 0.3125. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Ripple. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator bars.
Ripple (XRP/USD) forecast and analysis on August 5, 2020
As part of the Ripple course forecast, a test level of 0.2910 is expected. Where can we expect an attempt to continue the XRP/USD growth and further development of the upward trend. The purpose of this movement is the area near the level of 0.3580. The conservative Ripple buying area is located near the lower border of the Bollinger Bands indicator strip at 0.2540.
Cancellation of the option to continue the growth of the Ripple rate will be a breakdown of the area of the lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair below the 0.2320 area. This will indicate a change in the current trend in favor of the bearish for XRP/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of the cryptocurrency.
Ripple (XRP/USD) forecast and analysis on August 5, 2020 implies a test level of 0.2910. Further growth is expected to continue to the area above the level of 0.3580. The conservative area for buying Bitcoin is located area of 0.2540. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 0.2320. In this case, we should expect the fall to continue.