XRPUSD reversed off resistance, potential for further drop!
XRPUSD has reversed off our resistance at 0.3869 (horizontal overlap resistance, 23% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong reversal might occur below this level pushing price down to our major support at 0.3181 (100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI has reversed off resistance and we might see a corresponding drop in price.
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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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