Current trend
In the middle of last month, the XRP/USD pair resumed its decline, which currently continues. Last week, the price attempted to grow to the area of 0.5600 against the background of halving in the Bitcoin network, consolidating above the central line of Bollinger Bands, but could not do this and began to move down again, the targets of it being 0.4300 (Murrey level [1/8], the area of annual lows) and 0.3906 (Murrey level [0/8]). The key for the "bulls" is the resistance zone of 0.6150–0.6348 (61.8% Fibonacci retracement, Murrey level [6/8]), at the breakout of which the growth of quotes can resume to 0.7324 (Murrey level [7/8]) and 0.7812 (Murrey level [8/8]).
Technical indicators confirm the continuation of a downtrend: Bollinger Bands and Stochastic are reversing down, and MACD is stable in the negative zone. In general, the sellers' pressure in the XRP/USD pair remains, which suggests its further decline.
Support and resistance
Resistance levels: 0.6348, 0.7324, 0.7812.
Support levels: 0.4300, 0.3906.
![XRP/USD: TECHNICAL ANALYSIS](https://socialstatic.fm-cdn.com/social/202404/8ae0ea2a8bb842cc8e89d3c1912305ea.png?x-oss-process=image/quality,q_70/format,jpeg)
Trading tips
Short positions can be opened from 0.5100 with targets of 0.4300, 0.3906 and stop-loss of 0.5380. Implementation period: 5–7 days.
Long positions can be opened above 0.6348 with targets of 0.7324, 0.7812 and stop-loss of 0.5900.
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