XRP/USD end the trading week at the level of 0.1502 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 have pierced the area between the signal lines down, which indicates pressure from sellers. At the moment, we should expect an attempt to develop a fall and test the support area near 0.1255. Where again we should expect a rebound and continued growth of the cryptocurrency in the region above the level of 0.3945.
XRP Forecast and Analysis XRP/USD March 16 — 20, 2020
An additional signal in favor of the growth of XRP/USD quotes in the current trading week March 16 — 20, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the support area. Cancellation of the growth option of the Ripple cryptocurrency will be a fall and a breakdown of the area of 0.0905. This will indicate a breakdown of the support area and a continued decline in XRP/USD quotes with a target below the level of 0.0505. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the area of 0.1955.
XRP Forecast and Analysis XRP/USD March 16 — 20, 2020 suggests an attempt to test the support level near the 0.1255 area. Where can we expect continued growth of quotations with a potential target at the level of 0.3945. 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 area of 0.0905. This will indicate a continued decline with a target below the level of 0.0505.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
