Cryptocurrency Ripple (XRP/USD) is trading at 0.8995. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Ripple. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 0.8740 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with the target near the level of 1.0230.
Ripple (XRP/USD) forecast and analysis on May 7, 2018
The conservative buying area for Ripple is located near the lower border of the Bollinger Bands indicator strip at 0.8410. The abolition of the continuation of Ripple growth will be the breakdown of the lower bound of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the 0.7620 area, which indicates a change in the trend in favor of the bearish for XRP/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.