FenzoFx—Ripple (XRP) is testing the resistance level, which expands from $2.40 to $2.46, with the Stochastic Oscillator hinting at an overbought market.
A new bearish wave could emerge if the resistance holds. In this scenario, the price could dip toward the 50.0% Fibonacci retracement level at $2.37, backed by the 50-SMA.
The bearish outlook should be invalidated if XRP/USD exceeds and stabilizes above $2.46.
Trade XRP/USD with low spread, no commission and no swap at FenzoFx.
A new bearish wave could emerge if the resistance holds. In this scenario, the price could dip toward the 50.0% Fibonacci retracement level at $2.37, backed by the 50-SMA.
The bearish outlook should be invalidated if XRP/USD exceeds and stabilizes above $2.46.
Trade XRP/USD with low spread, no commission and no swap at FenzoFx.
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Knowledge Should Be Free – And So Is Your Path to Trading Success.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.