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Ripple forecast – Ripple price will break out in JULY!

 


As is well known, the Ripple price has been supported at around $0.30 for weeks. However, for the past few weeks, the price has been additionally forming a trendline heading towards the $0.30 support. Because of this, a descending triangle has formed. This triangle is now in the final third, so the price could break out at any time. Since descending triangles are trend continuation formations, we expect the price to break out in a bearish manner. The probability of such a price movement is around 70%. This is a fairly high probability, unlike, for example, symmetrical triangles.

The Ripple price still has two supports before it, until we can no longer see any in the chart, as the historical data is missing. The next support is around $0.23. Because of this, we are only assuming for the time being that the price will fall by 7 cents in the next few weeks. After that, the price could recover a bit. In the long term, we expect the price to drop to $0.175. In our opinion, this level will be reached sooner or later.

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