XRP/USD end the trading week at 0.3246 and continue to move as part of the growth and downward channel. Moving averages indicate a bearish trend. However, prices broke through the area between the signal lines up, which indicates pressure from the bulls. At the moment, we should expect an attempt to start the correction and test the support area near 0.2435. Where again we should expect a rebound and continued growth of the cryptocurrency in the region above the level of 0.5295.
XRP Forecast and Analysis XRP/USD February 17 — 21, 2020
In favor of the growth of XRP/USD quotes in the current trading week February 17 — 21, 2020, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the growth option of the Ripple cryptocurrency will be a fall and a breakdown of the 0.1565 area. This will indicate a breakdown of the support area and a continued decline in XRP/USD quotes with a target below the level of 0.1225. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the 0.3695 area.
XRP Forecast and Analysis XRP/USD February 17 — 21, 2020 suggests an attempt to test the support level near the 0.2435 area. Where can we expect continued growth of quotations with a potential target at the level of 0.5295. An additional signal in favor of the fall of Ripple will be a test of the trend line on the relative strength index (RSI). The cancellation of the option to reduce cryptocurrency will be the breakdown of the 0.1565 area. This will indicate a continued decline with a target below the level of 0.1225.
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