XRPUSD is approaching resistance, potential drop!
XRPUSD is approaching our first resistance at 0.4611 (100%, 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where a strong drop might occur below this level pushing price down to our major support at 0.3763 (100% Fibonacci extension, horizontal overlap support, 78.6% Fibonacci retracement). A break below our intermediate support at 0.4153 (horizontal swing low support, 100% Fibonacci extension) might provide the bearish acceleration to our major support target. Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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