XRP/USD end the trading week at 0.4421 and continue to move as part of the correction and the formation of the “Triangle” pattern. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from buyers and a potential continuation of the growth of the cryptocurrency from the current levels. At the moment, we should expect an attempt to develop a correction and a test of the support area near 0.3275. Where can we expect a rebound again and a continued rise in the cryptocurrency to the area above the level of 0.7265.
Cryptocurrency XRP Forecast and Analysis February 8 — 12, 2021
An additional signal in favor of the growth of XRP quotes in the current trading week, the week of February 8 — 12, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the support area on the price chart. Cancellation of the growth option for the Ripple cryptocurrency will be a fall in prices and a breakdown of the 0.1905 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 0.1245. Confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the 0.6505 area, which will indicate a breakdown of the upper boundary of the “Triangle” model.
Cryptocurrency XRP Forecast and Analysis February 8 — 12, 2021 suggests an attempt to test the support level near the 0.3275 area. Where can we expect the continued growth of quotations with a potential target at the level of 0.7265. 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 0.1905 area. This will indicate a continued decline with a target below 0.1245.