XRP Reversed off Resistance, Potential For Further Drop
XRP has reversed off our first resistance at 0.5468 (100% 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 0.3804 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support). Stochastic (55,5,3) has reversed off our resistance resistance and we might see a corresponding drop in price.
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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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