easyMarkets
Short

XRPUSD approaching resistance, potential drop!

BITFINEX:XRPUSD   XRP / U.S. Dollar
XRPUSD is approaching our first resistance at 0.3113 (horizontal overlap resistance, 50%, 38.2% Fibonacci retracement , 100% Fibonacci extension ) and a strong drop might occur below this level pushing price down to our major support at 0.2743 (horizontal swing low support, 78.6% Fibonacci retracement ).
RSI (89) is also approaching resistance where we might see a corresponding drop in price should it react off this level.
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