XRP/USD end the trading week at the level of 0.2361 and continue to move as part of the correction and the formation of the bullish «Wolfe Wave» pattern. Moving averages indicate a bearish trend. Prices continue to build on signal lines, indicating bearish pressure. At the moment, we should expect an attempt to continue the continuation of the fall and test the support area near 0.1675. Where again we should expect a rebound and continued growth of the cryptocurrency in the region above the level of 0.3655 as part of the development of the bullish «Wolfe Wave» model.
XRP Forecast and Analysis XRP/USD February 3 — 7, 2020
In favor of the growth of XRP/USD quotes in the current trading week February 3 — 7, 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 bullish model «Wolfe Wave». Cancellation of the growth option of the Ripple cryptocurrency will be a fall and a breakdown of the 0.1305 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 0.1025. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the 0.2705 area.
XRP Forecast and Analysis XRP/USD February 3 — 7, 2020 implies an attempt to test the support level near the area of 0.1675. Where can we expect continued growth of quotations with a potential target at the level of 0.3655. 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 0.1305 area. This will indicate a continued decline with a target below the level of 0.1025.
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