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XRPUSD approaching resistance, potential drop!

BITFINEX:XRPUSD   XRP / U.S. Dollar
XRPUSD is approaching our first resistance at 0.4619 (horizontal overlap resistance, 61.8% fibonacci extension , 50%, 38.2% fibonacci retarcement) and we might see a strong drop in price below this level to our major support at 0.3744 (horizontal swing low support, 100% fibonacci extension , 50% fibonacci retracement ).
Stochastic (21,5,3) is also approaching our resistance and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

Comments

It's possible to go down, but regarding the BTC chart forming an inverse head n shoulder on the 1 hour chart which will have a significant impact on XRP including additional alt coins to climb...it's speculated that BTC could reach 8k-10k within the 1st week of Jan 2019.

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