XRP/USD end the trading week at 0.2962 and continue to move as part of the correction and the downward channel. Moving averages indicate a bearish trend. However, prices broke through the area between the signal lines upwards, which indicates pressure from buyers and a potential continuation of the cryptocurrency growth from the current levels. At the moment, we should expect an attempt to develop a correction and a test of the support area near 0.2355. Where can we expect a rebound again and a continued rise in the cryptocurrency to the area above the level of 0.4575.
XRP Forecast and Analysis XRP/USD August 10 — 14, 2020
An additional signal in favor of the growth of XRP/USD quotes in the current trading week August 10 — 14, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth option for the Ripple cryptocurrency will be a fall in prices and a breakdown of the 0.2005 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 0.1525. Confirmation of the growth of the cryptocurrency will be the breakdown of the resistance area and closing of quotations above the 0.3505 area.
XRP Forecast and Analysis XRP/USD August 10 — 14, 2020 suggests an attempt to test the support level near the 0.2355 area. Where can we expect the continued growth of quotations with a potential target at the level of 0.4575. An additional signal in favor of a rise in the value of Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for cryptocurrency will be a breakdown of the 0.2005 area. This will indicate a continued decline with a target below 0.1525.
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