Ripple XRP/USD complete the trading week at 0.3127 and continue to move as part of the decline and test of the support area. Moving averages indicate a downward trend. At the moment, we should expect an attempt to reduce and test the area of 0.2665. Where again we should expect a rebound and continued growth of the cryptocurrency in the region above the level of 0.6850.
Ripple Forecast and Analysis August 5 — 9, 2019
In favor of the rise in XRP/USD quotes in the current trading week, August 5 — 9, 2019, a test of the ascending 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 Ripple cryptocurrency growth option will be a fall and a breakdown of the 0.2445 area. This will indicate a breakdown of the support area and a continued decline in XRP/USD quotes with a target below the level of 0.2050. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance level and closing of quotations above the 0.3845 area.
Ripple Forecast and Analysis August 5 — 9, 2019 implies an attempt to test the support level near the 0.2665 area. Where can we expect continued growth of quotations with a potential target at the level of 0.6850. An additional signal in favor of the Ripple rise will be a test of the trend line on the relative strength index (RSI). The cancellation of the growth of cryptocurrency will be a breakdown of the 0.2445 area. This will indicate a continued decline with a target below the level of 0.2050.