Ripple XRP/USD completes the trading week at 0.43 and continue to move within the bearish trend. At this point, we should expect an attempt to test the resistance level near the area of 0.47. Whence again we should expect a rebound and the continuation of the fall of the cryptocurrency into the area below the level of 0.30.
Ripple weekly forecast & analysis July 30 — August 3, 2018
In favor of lowering the quotes XRP/USD will make the formation of the reversal model «Head and Shoulders» on the indicator of relative strength index (RSI), as well as test the upper boundary of the bearish channel. Cancellation of the variant of the Ripple cryptocurrency fall will be a strong growth and a breakdown of the area of 0.55, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of XRP/USD quotes. Confirmation of the decrease of the cryptocurrency will be the breakdown of the support area and the closing of quotations below the level of 0.39.
Ripple weekly forecast & analysis July 30 — August 3, 2018 suggests an attempt to test the resistance level near the area of 0.47, from which it is expected to continue falling of quotations with a potential target at 0.30, an additional signal in favor of the Ripple decline is the trend line test on the relative strength index (RSI).