XRP ends the trading week near the 0.4989 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 September 11 — 15, 2023. A minor correction is expected to develop and a test of the Ichimoku indicator signal line area is expected near the level of 0.5065. 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 0.2675.
XRP Forecast September 11 — 15, 2023
An additional signal in favor of a fall in the cryptocurrency will be a test of the resistance level on the price chart. The second signal will be a rebound from the upper border of the bearish 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 0.5675. The nearest resistance area for XRP is located at 0.5785. The support area for XRP/USD is located at 0.3955.
Cancellation of the option for Ripple quotes to fall will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the 0.7285 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 0.4705.
XRP Forecast September 11 — 15, 2023 assumes an attempt to develop a correction to the level of 0.5065. Where can we expect a downward rebound and a continuation of the fall of the cryptocurrency with a potential target near the level of 0.2675. 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 0.7285 area. In this case, we should expect a continuation of the rise of Ripple with a potential target at the level of 0.8805.
