XRP/USD end the trading week at 0.8404 and continue to move within the fall and the bullish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines, which indicates pressure from sellers and a potential continuation of the decline in the cryptocurrency from the current levels. At the moment, we should expect an attempt to develop a bullish correction and a test of the resistance area near 0.9705. Where can we expect a rebound again and the continuation of the fall of the cryptocurrency to the area below the level of 0.2895.
XRP Weekly Forecast January 3 — 7, 2022
An additional signal in favor of a decline in XRP quotes in the current trading week January 3 — 7, 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. Cancellation of the option to reduce the Ripple cryptocurrency will be a strong rise in prices and a breakdown of the 1.3055 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 1.5055. Confirmation of the fall of the cryptocurrency will be the breakdown of the support area and the closing of quotations below the 0.6505 area.
XRP Weekly Forecast January 3 — 7, 2022 suggests an attempt to test the resistance level near the 0.9705 area. Where can we expect the continuation of the fall in quotations with a potential target at the level of 0.2895. An additional signal in favor of reducing the value of XRP will be a test of the trend line on the relative strength index (RSI). The cancellation of the cryptocurrency fall option will be the breakdown of the 1.3055 area. This will indicate a continued rise with a target above the level of 1.5055.
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