XRP/USD complete the trading week at 0.6932 and continue to move as part of the fall and the downward channel. Here, too, the “Triangle” pattern is formed. 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 cryptocurrency’s decline from current levels. At the moment, we should expect an attempt to develop a bullish correction and test the resistance area near 0.7065. Where can we expect a rebound and a continuation of the fall of the cryptocurrency to the area below the level of 0.2235 again.
XRP Weekly Forecast February 28 — March 4, 2022
An additional signal in favor of a decrease in XRP quotes in the current trading week February 28 — March 4, 2022 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel, as well as from the border of the Triangle pattern. Cancellation of the option to reduce the Ripple cryptocurrency will be a strong rise in prices and a breakdown of the 1.1005 area. This will indicate a breakdown of the resistance area and a continued rise in XRP/USD quotes with a target above the level of 1.2505. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the area of 0.4705, which will indicate a breakdown of the lower border of the “Triangle” model.
XRP Weekly Forecast February 28 — March 4, 2022 suggests an attempt to test the resistance level near the 0.7065 area. Where should we expect the quotes to continue falling with a potential target at the level of 0.2235. 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 1.1005 will cancel the option of falling cryptocurrency. This will indicate a continuation of the rise with the target above the level of 1.2505.
