Tickmill
Short

Ripple is testing major resistance, potential for a strong drop!

BITFINEX:XRPUSD   Ripple / U.S. Dollar
XRPUSD is testing major resistance at 0.8320 ( Fibonacci retracement , horizontal overlap resistance) and a strong drop could occur from here to push prices down to 0.7461 support ( Fibonacci extension , horizontal swing low support). Our next major resistance is at 0.8756 ( Fibonacci retracement , horizontal overlap resistance).

Stochastic (34,5,3) is seeing strong resistance below 90% where a corresponding drop could occur.

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This analysis is provided as general market commentary and does not constitute investment advice.
Agreed, could possibly drop to 0.56 after this initial drop.

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