XRP/USD complete the trading week at 0.5107 and continue to move as part of the growth and the bullish channel. Moving averages indicate a bullish 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 correction and test the support area near 0.4265. Where can we expect a rebound again and the continued growth of the cryptocurrency to the area above the level of 0.7305.
XRP Weekly Forecast June 5 — 9, 2023
An additional signal in favor of the growth of XRP quotes in the current trading week of June 5 — 9, 2023 will be a test of the support 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 Ripple cryptocurrency growth option will be a fall in prices and a breakdown of the 0.3405 area. This will indicate a breakdown of the support area and a continued fall in XRP/USD quotes with a target below the level of 0.2505. The growth of the cryptocurrency will be confirmed by a breakdown of the resistance area and closing of quotes above the area of 0.5705.
XRP Weekly Forecast June 5 — 9, 2023 suggests an attempt to test the support level near the 0.4265 area. Where should we expect further growth of quotations with a potential target at the level of 0.7305. An additional signal in favor of the rise in the cost of XRP will be a test of the trend line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a breakdown of the 0.3405 area. This will indicate a continuation of the fall with the target below the level of 0.2505.
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