XRP/USD complete the trading week at 0.7859 and continue to move within the correction and the downward channel. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the decline in 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 0.7985. Where can we expect a rebound and a continuation of the fall of the cryptocurrency to the area below the level of 0.2605 again.
XRP Weekly Forecast March 21 — 25, 2022
An additional signal in favor of a decrease in XRP quotes in the current trading week March 21 — 25, 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 upper 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 0.4905, which will indicate a breakdown of the lower border of the “Triangle” model.
XRP Weekly Forecast March 21 — 25, 2022 suggests an attempt to test the resistance level near the 0.7985 area. Where should we expect the quotes to continue falling with a potential target at the level of 0.2605. 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.
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