XRP completes the trading week near the 0.3295 area. XRP/USD quotes are trading below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend for the Ripple coin. As part of the forecast for the digital currency rate for the trading week September 5 — 9, 2022. Growth is expected to develop and the lower border of the Ichimoku indicator Cloud is expected to be tested near the level of 0.3405. Where should we expect a rebound down and an attempt to continue the fall of the cryptocurrency rate with a target near the level of 0.1965.
XRP Crypto Forecast September 5 — 9, 2022
An additional signal in favor of a decrease in the cryptocurrency will be a test of the resistance level on the price chart. The second signal will be a rebound from the lower border of the bullish channel, which was broken down by the sellers. Earlier, a weak signal was received for buying Ripple cryptocurrency. The signal was formed due to the crossing of the signal lines at the level of 0.3245. The nearest resistance area for XRP is at 0.3915. The area of support for XRP/USD is at 0.2505.
Cancellation of the option of falling Ripple quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 0.4205 area. This will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the coin. It is worth expecting an acceleration in the fall of the cryptocurrency with a breakdown of the support area and closing below the level of 0.2905.
XRP Crypto Forecast September 5 — 9, 2022 suggests an attempt to develop a correction to the level of 0.3405. Where should we expect a rebound and a continuation of the fall of the cryptocurrency with a potential target near the level of 0.1965. In favor of the decline will be a test of the upper border of the bearish channel. Cancellation of the reduction option will be a strong growth and a breakdown of the 0.4205 area. In this case, we should expect Ripple to rise with a potential target at 0.4805.
