Ripple XRP/USD end the trading week at 0.2863 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 upward correction and test the resistance area near 0.3065. Where again we should expect a rebound and continued fall of the cryptocurrency to the area below the level of 0.1455.
Ripple Forecast and Analysis November 4 — 8, 2019
In favor of the fall in XRP/USD quotes in the current trading week November 4 — 8, 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 0.3765 area. This will indicate a breakdown of the resistance area and continued growth of XRP/USD quotes with a target above the level of 0.4355. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the area of 0.2155.
Ripple Forecast and Analysis November 4 — 8, 2019 involves an attempt to test the resistance level near the area of 0.3065. Where can we expect the continuation of the fall in quotations with a potential target at the level of 0.1455. An additional signal in favor of reducing Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a breakdown of the area of 0.3765. This will indicate a continuation of the rise with the target above the level of 0.4355.