XRP/USD complete the trading week at 0.5265 and continue to move as part of a strong growth and a downward channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers and a potential continuation of the growth 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 0.5465. Where can we expect a rebound down again and a continuation of the fall of the cryptocurrency to the area below the level of 0.2565.
XRP Weekly Forecast April 3 — 7, 2023
An additional signal in favor of falling XRP quotes in the current trading week April 3 — 7, 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 0.6305 area. This will indicate a breakdown of the resistance area and continued growth of XRP/USD quotes with a target above the level of 0.6895. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the 0.3905 area, which will indicate a breakdown of the lower border of the bullish correction channel.
XRP Weekly Forecast April 3 — 7, 2023 suggests an attempt to test the resistance level near the 0.5465 area. Where should we expect the quotes to continue falling with a potential target at the level of 0.2565. 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 0.6305 area. This will indicate continued growth with a target above the level of 0.6895.
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