XRP Winding Up for Another Breakout

Ripple still appears to be consolidating in a dragon head pattern, finding support around $0.70 a psychological level which coincides with a Fibonacci level. Clearly some retracement should be expected after XRP’s breakout in mid-December. We anticipate further pullback, optimally to $0.52 or so which corresponds with a Fibonacci Level and the central moving average of the KRI. But $0.60 would serve as a more conservative option.

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