XRP ends the trading week near the 0.6014 area. XRP/USD quotes are trading below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend for the Ripple coin. As part of the forecast for the digital currency exchange rate for the trading week of April 15 — 19, 2024. A correction is expected to develop and a test of the upper limit of the Ichimoku indicator Cloud is expected near the level of 0.6365. Where can we expect a downward rebound and an attempt to continue the fall in the cryptocurrency rate with a target near the level of 0.4845.
XRP Forecast April 15 — 19, 2024
An additional signal in favor of a decline 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. Previously, a weak signal was received for sales of the Ripple cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 0.6305. The nearest resistance area for XRP is located at 0.6375. The support area for XRP/USD is located at 0.4845.
Cancellation of the option of falling Ripple quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the 0.6805 area. This will indicate a change in the bearish trend in favor of a bullish trend and continued growth of the coin. Expect an acceleration in the fall of the cryptocurrency with a breakdown of the support area and closing of quotes below the level of 0.5565.
XRP Forecast April 15 — 19, 2024 assumes an attempt to develop a correction to the level of 0.6365. Where can we expect a downward rebound and a continuation of the fall of the cryptocurrency with a potential target near the level of 0.4845. A test of the lower boundary of the bullish channel will support the decline. Cancellation of the fall option will be a strong growth and a breakdown of the 0.6805 area. In this case, we should expect continued growth of Ripple with a potential target at the level of 0.7525.
