The Ripple cryptocurrency ends the trading week near the 1.5887 area. XRP/USD quotes are trading above the Ichimoku Kinko Hyo Cloud. This indicates the presence of an upward trend in the Ripple coin. As part of the forecast of the digital currency exchange rate for the trading week of May 10-14, 2021. The correction is expected to develop and test the upper limit of the Ichimoku indicator near the level of 1.3605. Where should we expect a rebound and an attempt to continue the rise of the cryptocurrency rate with a goal near the level of 2.1505.
XRP cryptocurrency forecast for the week of May 10-14, 2021
An additional signal in favor of the rise of the cryptocurrency will be a test of the support level on the price chart. The second signal will be a rebound from the lower border of the ascending channel. Earlier, a strong signal was received for purchases of the Ripple cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 1.3805. The nearest resistance area is located at 1.8505. The support area for XRP / USD is located at 0.9005.
XRP cryptocurrency signal for the week of May 10-14, 2021
The cancellation of the growth option for Ripple quotes will be a breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1.1505. This will indicate a change in the bullish trend in favor of a downward trend. Expect an acceleration in the rise of the cryptocurrency with a breakdown of the resistance area and a close above the level of 1.8505.
Thus, the XRP exchange rate forecast of the cryptocurrency for the week of May 10-14, 2021 suggests an attempt to develop a correction to the level of 1.3605. Where to expect a rebound and continued growth of the cryptocurrency with a potential target near the level of 2.1505. A test of the lower boundary of the bullish channel will be in favor of the rise. The cancellation of the growth option will be a fall and a breakdown of the area of 1.1505. In this case, we should expect a decline in Ripple with a potential target at 0.8505.