Cryptocurrency Ripple ends the trading week near the area of 0.3292. XRP/USD quotes are trading below the lower limit of the Ichimoku Kinko Hyo Cloud.
This indicates the presence of a downward trend for Ripple. As part of the forecast of the digital currency. A test of the Ichimoku Kinko Hyo signal lines is expected near the level of 0.3500. Where should we expect a rebound and an attempt to continue the fall of cryptocurrency with a goal near the level of 0.2000.
Ripple Weekly Analysis and Forecast January 14 — 18, 2019
An additional signal in favor of the fall of cryptocurrency will be the test of resistance level. As well as a rebound from the upper limit of the bearish channel. Previously, a strong signal was received for the SEL the Ripple cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 0.3550. The nearest resistance area is at 0.4000. The area of support for XRP/USD is located at 0.2600.
Canceling the drop option of Ripple quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the 0.4500 area. This will indicate a change in the bearish trend in favor of a bullish trend. Expect to accelerate the fall of cryptocurrency costs with the breakdown of the support area and closing below the level of 0.3000.
Ripple Weekly Analysis and Forecast January 14 — 18, 2019 suggests an attempt to develop a correction to the level of 0.3500. Where can we expect a rebound and the continuation of the fall of cryptocurrency with a potential goal near the level of 0.2000. In favor of reducing the test will perform the resistance level. Cancellation of the fall option will be a breakdown of the 0.4500 area. In this case, we should expect the continuation of Ripple growth with a potential target of 0.5500.