Ripple XRP/USD complete the trading week at the level of 0.2504 and continue to move as part of the correction and the formation of the bullish «Wolfe Wave» model. Moving averages indicate a downward trend. At the moment, we should expect an attempt to continue the decline and test the support area near 0.1810. Where again we should expect a rebound and continued growth of the cryptocurrency in the region above the level of 0.3205.
Ripple Forecast and Analysis October 7 — 11, 2019
In favor of the growth of XRP/USD quotes in the current trading week from October 7 — 11, 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 lower boundary of the bullish «Wolfe Wave» model. Cancellation of the growth option of the Ripple cryptocurrency will be a fall and a breakdown of the 0.1605 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 0.1005. Confirmation of the growth of cryptocurrency will be a breakdown of the upper border of the downward channel and closing quotes above the area of 0.2905.
Ripple Forecast and Analysis October 7 — 11, 2019 involves an attempt to test the support level near the area of 0.1810. Where can we expect continued growth of quotations with a potential target at the level of 0.3205. 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 cryptocurrency growth option will be the breakdown of the 0.1605 area. This will indicate a continued fall with a target below the level of 0.1005.