XRP ends the trading week near the 0.6212 area. XRP/USD quotes are trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates a bullish trend for the Ripple coin. As part of the forecast for the digital currency exchange rate for the trading week of March 11 — 15, 2024. A correction is expected to develop and a test of the Ichimoku indicator signal line area is expected near the level of 0.5935. Where can we expect a rebound upward and an attempt to continue the growth of the cryptocurrency rate with a target near the level of 0.7355.
XRP Forecast March 11 — 15, 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 purchases of the Ripple cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 0.5185. The nearest resistance area for XRP is located at 0.6690. The support area for XRP/USD is located at 0.5705.
Cancellation of the option to increase Ripple quotes will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with quotes closing below the 0.5245 area. This will indicate a change in the bullish trend in favor of a bearish trend and the continuation of the fall of the coin. Expect an acceleration in the growth of the cryptocurrency with a breakdown of the resistance area and closing of quotes above the level of 0.6675.
XRP Forecast March 11 — 15, 2024 assumes an attempt to develop a correction to the level of 0.5935. Where can we expect an upward rebound and continued growth of the cryptocurrency with a potential target near the level of 0.7355. A test of the lower boundary of the bullish channel will support the rise. Cancellation of the growth option will be a fall and a breakdown of the 0.5245 area. In this case, we should expect Ripple to continue to decline with a potential target at 0.4465.
