XRP/USD complete the trading week at 0.4956 and continue to move as part of the growth and the formation of the “Triangle” model. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines, 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 bearish correction and test the support area near 0.4305. Where can we expect a rebound and continued growth of the cryptocurrency to the area above the level of 1.0075 again.
XRP Weekly Forecast October 17 — 21, 2022
An additional signal in favor of the growth of XRP quotes in the current trading week October 17 — 21, 2022 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 “Triangle” model. Cancellation of the Ripple cryptocurrency growth option will be a fall in prices and a breakdown of the 0.3745 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 0.2625. The growth of the cryptocurrency will be confirmed by a breakdown of the resistance area and closing of quotes above the area of 0.6005, which will indicate the breakdown of the upper border of the “Triangle” model and the beginning of the pattern with targets at the top.
XRP Weekly Forecast October 17 — 21, 2022 suggests an attempt to test the support level near the 0.4305 area. Where should we expect continued growth of quotations with a potential target at the level of 1.0075. 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 0.3745 area. This will indicate a continuation of the fall with the target below the level of 0.2625.
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