easyMarkets
Long

XRPUSD approaching resistance, potential drop!

BITFINEX:XRPUSD   XRP / U.S. Dollar
XRPUSD is approaching our first resistance at 0.3454 (horizontal overlap resistance, 100% Fibonacci extension , 50% Fibonacci retracement ) where a strong bounce might occur below this level pushing price up to our major resistance at 0.3051 (horizontal swing low support, 78.6% Fibonacci retracement ).
Stochastic (55,5,3) is also approaching resistance where 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.

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