XRP/USD complete the trading week at 0.3681 and continue to move within the correction and the downward channel. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall of the cryptocurrency already from current levels. At the moment, we should expect an attempt to develop a bullish correction and test the resistance area near 0.4465. Where can we expect a rebound down again and a continuation of the fall of the cryptocurrency to the area below the level of 0.1605.
XRP Forecast January 16 — 20, 2023
An additional signal in favor of falling XRP quotes in the current trading week January 16 — 20, 2023 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the fall option for the Ripple cryptocurrency will be a strong rise in prices and a breakdown of the 0.5505 area. This will indicate a breakdown of the resistance area and continued growth of XRP/USD quotes with a target above the level of 0.6655. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the area of 0.3005.
XRP Forecast January 16 — 20, 2023 suggests an attempt to test the resistance level near the 0.4465 area. Where should we expect the quotes to continue falling with a potential target at the level of 0.1605. An additional signal in favor of a decrease in the cost of XRP will be a test of the trend line on the relative strength index (RSI). Cancellation of the cryptocurrency fall option will be a breakdown of the 0.5505 area. This will indicate continued growth with a target above the level of 0.6655.
