XRP/USD complete the trading week at 0.4966 and continue to move as part of the growth 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 fall of the cryptocurrency already from current levels. At the moment, we should expect an attempt to develop growth and test the resistance area near 0.5265. Where can we expect a rebound and a continuation of the fall of the cryptocurrency to the area below the level of 0.1375 again.
XRP Weekly Forecast November 7 — 11, 2022
An additional signal in favor of falling XRP quotes in the current trading week November 7 — 11, 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 fall option for the Ripple cryptocurrency will be a strong rise in prices and a breakdown of the 0.5965 area. This will indicate a breakdown of the resistance area and continued growth of XRP/USD quotes with a target above the level of 0.7585. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the 0.3805 area, which will indicate a breakdown of the lower border of the bullish correction channel.
XRP Weekly Forecast November 7 — 11, 2022 suggests an attempt to test the resistance level near the 0.5265 area. Where should we expect the quotes to continue falling with a potential target at the level of 0.1375. 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 cryptocurrency fall option will be a breakdown of the 0.5965 area. This will indicate continued growth with a target above the level of 0.7585.
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