Let’s see what is going on the Hourly chart within the Fibonacci retracement indicator. The price has crossed $0.5914 resistance area and even tested it from the above. Bulls were able to hold their lines and to move XRP/USD even higher towards $0.6216, which coincides with 1.618 retracement level. That we see now is the attempt to test this level again. Let’s look through the possible ways for XRP/USD:
1. Red scenario (bearish). XRP/USD will move towards $0.5914 and cross this area targeting 2.618 retracement level. Red scenario is also possible via Orange one (meaning XRP/USD will reach $0.6216 again, jump off it and then fall below $0.5914).
2. Orange scenario (neutral). Ripple will retest $0.6216 resistance area and reverse downwards targeting $0.5914 support area.
3. Green scenario (bullish correction). XRP/USD will break through $0.6216 resistance area targeting $0.6515 resistance area, which coincides with 1 retracement level.
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