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29.07.202117:09 Forex Analysis & Reviews: XRPUSD stops advance at important Fibonacci retracement

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XRPUSD has been moving higher over the last couple of sessions after making a low just above $0.50. Price has made a double bottom at $0.50 and is now challenging $0.72 resistance.

Blue lines - Fibonacci retracement

XRPUSD has reached once again the 38% Fibonacci retracement. This is important short-term resistance. In order for price to continue higher bulls will need to break above the $0.73 resistance. Next major resistance and upside target is at $0.8750. Support is at $0.61. Bulls need to respect this support in order to continue higher.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2024

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