XRP/USD end the trading week at 0.4245 and continue to move within the correction and the upward channel. Moving averages indicate a bullish 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 from the current levels. At the moment, we should expect an attempt to develop a correction and a test of the support area near 0.3855. Where can we expect a rebound again and a continuation of the rise of the cryptocurrency to the area above the level of 0.7005.
Cryptocurrency XRP Forecast and Analysis March 1 — 5, 2021
An additional signal in favor of the growth of XRP quotes in the current trading week March 1 — 5, 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 ascending channel. Cancellation of the growth option for the Ripple cryptocurrency will be a fall in prices and a breakdown of the 0.2655 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 0.1575. Confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the 0.6605 area.
Cryptocurrency XRP Forecast and Analysis March 1 — 5, 2021 suggests an attempt to test the support level near the 0.3855 area. Where can we expect the continued growth of quotations with a potential target at the level of 0.7005. An additional signal in favor of raising the XRP value will be a test of the trend line on the relative strength index (RSI). The cancellation of the cryptocurrency growth option will be the breakdown of the 0.2655 area. This will indicate a continued decline with a target below 0.1575.