Ripple XRP/USD close the trading week at 0.3539 and continue to move as part of the correction. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to grow and test the resistance level near the 0.4400 area. Where once again we should expect a rebound and the continuation of the decline of cryptocurrency in the region below the level of 0.2250.
Ripple weekly forecast & analysis January 7 — 11, 2019
In favor of the fall of XRP/USD quotes in the current trading week of January 7 — 11, 2019, a test of the downward trend line on the relative strength index (RSI) will be made. Cancellation of the option of falling Ripple cryptocurrency will be a strong growth and the breakdown of the 0.5000 area. This will indicate a breakdown of the upper boundary of the channel and the continued growth of XRP/USD quotes. A confirmation of the decline in cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 0.3050.
Ripple weekly forecast & analysis January 7 — 11, 2019 involves an attempt to test the resistance level near the 0.4400 area. Where can we expect the continuation of the fall in quotations with a potential target at the level of 0.2250. An additional signal to reduce Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall of the cryptocurrency will be the breakdown of the area of 0.5000. This will indicate continued growth.