Cryptocurrency Ripple (XRP/USD) is trading at 0.2940. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Ripple. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.
Ripple (XRP/USD) forecast and analysis on May 7, 2019
As part of the Ripple course forecast, a test level of 0.3000 is expected. Where should we expect an attempt to continue the fall of XRP/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 0.2770. The conservative Ripple sales area is located near the upper border of the Bollinger Bands indicator at 0.3050.
Cancellation of the option to continue the decline in the Ripple rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and closing quotations of the pair above the 0.3100 area. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Ripple (XRP/USD) forecast and analysis on May 7, 2019 implies a test level of 0.3000. Further, it is expected to continue falling to the area below the level of 0.2770. The conservative area for selling Ripple is located area of 0.3050. Canceling the option of falling cryptocurrency will be a breakdown of the level of 0.3100. In this case, we should expect continued growth.