XRPLong
Ripple Pullback
Ripple has continued to pullback slightly, unable to make another attempt for the nested Fibonacci Anchor at $1.12. We've been highlighting this as a significant sticking point for days now. We appear to be floating between this level of resistance and the nearest level of support at $1.03. The next level of support is the psychological $1 mark, which still coincides with the central moving average of the KRI and a congestion zone. Further, we have strong support from nested Fibonacci levels at $0.95, $0.90, $0.85, and $0.79, though it is unlikely we will retrace this far. The pullback we are seeing is anticipated, but eventually we are likely to make another run for $1.12. After that, we have a vacuum zone, which persists until $1.22, a Fibonacci Extension level, then $1.32, where the upper bound of the KRI is currently.
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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.