Ripple XRP/USD end the trading week at 0.2871 and continue to move as part of a slight growth and a downward channel. Moving averages indicate the presence of a bearish trend, prices have already repelled twice from signal lines. At the moment, we should expect an attempt to continue the development of the upward correction and test the resistance area near 0.3105. Where again we should expect a rebound and continued fall of the cryptocurrency to the area below the level of 0.1535.
Ripple Forecast and Analysis October 21 — 25, 2019
In favor of the fall in XRP/USD quotes in the current trading week October 21 — 25, 2019, a test of the downward trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall option of the Ripple cryptocurrency will be a strong growth and a breakdown of the 0.3505 area. This will indicate a breakdown of the resistance area and continued growth of XRP/USD quotes with a target above the level of 0.4025. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the area of 0.2255.
Ripple Forecast and Analysis October 21 — 25, 2019 involves an attempt to test the resistance level near the 0.3105 area. Where can we expect the continuation of the fall in quotations with a potential target at the level of 0.1535. An additional signal in favor of reducing Ripple will be a test of the trend line on the relative strength index (RSI). The cancellation of the option of falling cryptocurrency will be a breakdown of the area of 0.3505. This will indicate a continuation of the rise with the target above the level of 0.4025.