Ripple XRP/USD end the trading week at 0.2945 and continue to move as part of the decline. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to rise and test the resistance area near 0.3595. Where again we should expect a rebound and continued fall of the cryptocurrency to the area below the level of 0.1650.
Ripple Forecast and Analysis August 12 — 16, 2019
In favor of reducing the XRP/USD quotes in the current trading week, August 12 — 16, 2019, a test of the downward trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall option of the Ripple cryptocurrency will be a strong growth and a breakdown of the 0.3865 area. This will indicate a breakdown of the resistance area and continued growth of XRP/USD quotes with a target above the level of 0.4155. A confirmation of the fall of the cryptocurrency will be a breakdown of the support level and closing of quotes below the 0.2550 area.
Ripple Forecast and Analysis August 12 — 16, 2019 involves an attempt to test the resistance level near the area of 0.3595. Where can we expect the continuation of the fall in quotations with a potential target at the level of 0.1650. An additional signal in favor of reducing Ripple will be a test of the trend line on the relative strength index (RSI). The cancellation of the option of falling cryptocurrency will be a breakdown of the 0.2445 area. This will indicate a continuation of the rise with the target above the level of 0.2050.