Ripple XRP/USD end the trading week at 0.2237 and continue to move as part of the correction and the downward channel. Moving averages indicate the presence of a bearish trend, continue to be repelled by signal lines, which indicates pressure from the bears. At the moment, we should expect an attempt to continue the development of the fall and test the support area near 0.1625. Where again we should expect a rebound and continued growth of the cryptocurrency in the region above the level of 0.3635.
Ripple Forecast and Analysis December 2 — 6, 2019
In favor of the growth of XRP/USD quotes in the current trading week December 2 — 6, 2019, a test of the support area on the relative strength index (RSI) will come out. The second signal will be the completion of the formation of the bull model «Wolfe Wave». Cancellation of the Ripple cryptocurrency growth option will be a fall and a breakdown of the 0.1315 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 0.1055. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the 0.2625 area.
Ripple Forecast and Analysis December 2 — 6, 2019 implies an attempt to test the support level near the area of 0.1625. Where can we expect continued growth of quotations with a potential target at the level of 0.3635. An additional signal in favor of the fall of Ripple will be a test of the trend line on the relative strength index (RSI). The cancellation of the option to reduce cryptocurrency will be the breakdown of the 0.1315 area. This will indicate a continued decline with a target below the level of 0.1055.