XRP/USD end the trading week at 0.5886 and continue to move as part of the correction and the formation of the “Wedge” model. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines downward, which indicates pressure from sellers and a potential continuation of the fall of the cryptocurrency from the current levels. At the moment, we should expect an attempt to develop a correction and a test of the support area near 0.4465. Where can we expect a rebound again and a continuation of the rise of the cryptocurrency to the area above the level of 1.3055.
Cryptocurrency XRP Forecast and Analysis July 19 — 23, 2021
An additional signal in favor of the growth of XRP quotes in the current trading week July 19 — 23, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish Wedge pattern. Cancellation of the growth option for the Ripple cryptocurrency will be a fall in prices and a breakdown of the 0.2505 area. This will indicate a breakdown of the support area and a continued fall in XRP/USD quotes with a target below the level of 0.1505. Confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the 0.8505 area, which will indicate a breakdown of the upper boundary of the “Wedge” model.
Cryptocurrency XRP Forecast and Analysis July 19 — 23, 2021 suggests an attempt to test the support level near the 0.4465 area. Where can we expect the continued growth of quotations with a potential target at the level of 1.3055. An additional signal in favor of a rise in XRP value will be a test of the trend line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be the breakdown of the 0.2505 area. This will indicate a continued decline with a target below 0.1505.
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