XRP/USD end the trading week at 0.2656 and continue to move as part of the correction and the downward channel. Moving averages indicate a bullish trend. Prices continue to remain above the area between the signal lines, which indicates pressure from buyers and the potential continued growth of the cryptocurrency from the current levels. At the moment, we should expect an attempt to develop a correction and a test of the support area near 0.2330. Where can we expect a rebound again and a continuation of the rise of the cryptocurrency to the area above the level of 0.4415.
XRP Forecast and Analysis XRP/USD August 31 — September 4, 2020
An additional signal in favor of the growth of XRP/USD quotes in the current trading week of August 31 — September 4, 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 0.1865 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 0.1575. Confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the 0.3465 area.
XRP Forecast and Analysis XRP/USD August 31 — September 4, 2020 therefore suggests an attempt to test the support level near the 0.2330 area. Where can we expect the continued growth of quotations with a potential target at the level of 0.4415. 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). The cancellation of the cryptocurrency growth option will be the breakdown of the 0.1865 area. This will indicate a continued decline with a target below 0.1575.
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