XRP/USD end the trading week at 1.0253 and continue to move as part of the rise and the formation of an inverted ”Head and Shoulders” pattern. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upward, which indicates pressure from buyers and a potential continuation of the cryptocurrency growth from the current levels. At the moment, we should expect an attempt to develop a correction and a test of the support area near 0.6555. Where can we expect a rebound again and a continuation of the rise of the cryptocurrency to the area above the level of 1.5305.
Cryptocurrency XRP Forecast and Analysis August 16 — 20, 2021
An additional signal in favor of the growth of XRP quotes in the current trading week August 16 — 20, 2021 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 bullish ”Head and Shoulders” pattern. Cancellation of the growth option for the Ripple cryptocurrency will be a fall in prices and a breakdown of the 0.4055 area. This will indicate a breakdown of the support area and a continued fall in XRP/USD quotes with a target below 0.3005. Confirmation of the growth of the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the 1.1505 area.
Cryptocurrency XRP Forecast and Analysis August 16 — 20, 2021 implies an attempt to test the support level near the 0.6555 area. Where can we expect the continued growth of quotations with a potential target at the level of 1.5305. An additional signal in favor of a rise in XRP value will be a test of the trend line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be the breakdown of the 0.4055 area. This will indicate a continued decline with a target below 0.3005.