XRP/USD end the trading week at the level of 0.2017 and continue to move as part of the correction and the downward channel. Moving averages indicate a bearish trend. Prices are testing the area between the signal lines, which indicates pressure from sellers and a potential drop in the cryptocurrency from the current levels. At the moment, we should expect an attempt to develop growth and test the resistance area near 0.2325. Where can we expect a rebound again and the continuation of the fall of the cryptocurrency to the area below the level of 0.1185.
XRP Forecast and Analysis XRP/USD August 3 — 7, 2020
An additional signal in favor of a decrease in XRP/USD quotes in the current trading week August 3 — 7, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of falling Ripple cryptocurrency will be a strong rise in prices and a breakdown of the 0.2855 area. This will indicate a breakdown of the resistance area and continued growth of XRP/USD quotes with a target above the level of 0.3435. Confirmation of the fall in the cryptocurrency will be the breakdown of the support area and the closing of quotations below the 0.1525 area.
XRP Forecast and Analysis XRP/USD August 3 — 7, 2020 implies an attempt to test the resistance level near the 0.2325 area. Where can we expect the continuation of the fall in quotations with a potential target at the level of 0.1185. An additional signal in favor of reducing the value of Ripple will be a test of the trend line on the relative strength index (RSI). The cancellation of the cryptocurrency fall option will be the breakdown of the 0.2855 area. This will indicate continued growth with a target above the level of 0.3435.
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