XRP/USD complete the trading week at 0.5926 and continue to move as part of the fall and the downward channel. 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 0.7255. Where can we expect a rebound and a continuation of the fall of the cryptocurrency to the area below the level of 0.2565 again.
XRP Weekly Forecast May 9 — 13, 2022
An additional signal in favor of a decrease in XRP quotes in the current trading week May 9 — 13, 2022 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 option to reduce the Ripple cryptocurrency will be a strong rise in prices and a breakdown of the 0.9605 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 1.1505. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the area of 0.4605.
XRP Weekly Forecast May 9 — 13, 2022 suggests an attempt to test the resistance level near the 0.7255 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 option of falling cryptocurrency will be a breakdown of the area of 0.9605. This will indicate a continuation of the rise with the target above the level of 1.1505.
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