Cryptocurrency Ripple (XRP/USD) is trading at 0.4981. 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 middle border of the Bollinger Bands indicator bars.
Ripple (XRP/USD) forecast and analysis on December 16, 2020
As part of the Ripple course forecast, a test level of 0.5320 is expected. Where can we expect an attempt to continue the XRP/USD fall and the further development of the downward trend. The purpose of this movement is the area near the level of 0.4010. The conservative sales area for Ripple is located near the upper border of the Bollinger Bands indicator strip at 0.5330.
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 bars. As well as the moving average with a period of 55 and closing of quotations of the pair above the 0.5650 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 bars, we should expect an acceleration of the fall of the cryptocurrency.
Ripple (XRP/USD) forecast and analysis on December 16, 2020 implies a test level of 0.5320. Further, the continuation of the fall to the area below the level of 0.4010 is expected. The conservative area for selling is located area of 0.5330. Cancellation of the option of falling cryptocurrency will be a breakdown of the level of 0.5650. In this case, we should expect continued growth.