XRP/USD complete the trading week at 0.3333 and continue to move as part of the fall and the downward channel. Moving averages indicate a bearish trend. Prices have gone down from 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 0.3465. Where can we expect a rebound down again and a continuation of the fall of the cryptocurrency to the area below the level of 0.1365.
XRP Forecast January 2 — 6, 2023
An additional signal in favor of falling XRP quotes in the current trading week January 2-6, 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 0.5465 area. This will indicate a breakdown of the resistance area and continued growth of XRP/USD quotes with a target above the level of 0.6705. 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 2 — 6, 2023 suggests an attempt to test the resistance level near the 0.3465 area. Where can we expect the quotes to continue falling with a potential target at the level of 0.1365. 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). The breakdown of the area of 0.5465 will cancel the option of falling cryptocurrency. This will indicate continued growth with a target above the level of 0.6705.
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