Current trend

The XRP/USD pair is trading within the medium-term downward trend. Currently, the price has broken down the level of 0.4639 (Murrey level [3/8]), having unsuccessfully tested it several times last month, and against this background, the decline may continue to the targets of 0.4300 (Fibonacci retracement 0.0%) and 0.3906 (Murrey level [0/8]). The key level for the "bulls" seems to be the level of 0.5020 (Fibonacci retracement 23.6%), supported by the center line of Bollinger Bands, a breakout of which could lead to a change in the current trend and the resumption of upward dynamics to the levels of 0.5450 (Fibonacci retracement 23.6%) and 0.5859 (Murrey level [8/8]); however, such a scenario still seems less likely.

Technical indicators confirm a high probability of further decline. Bollinger Bands and Stochastic are reversing downwards, and the MACD is increasing in the negative zone. One can also note that, unlike most other leading digital assets, the XRP/USD pair is trending downward over the long term.

Support and resistance

Resistance levels: 0.5020, 0.5450, 0.5859.

Support levels: 0.4300, 0.3906.

Trading tips

Short positions can be opened below 0.4530 with targets at 0.4300, 0.3906 and stop-loss at 0.4730. Implementation period: 5-7 days.

Long positions may be opened above 0.5020 with targets at 0.5450, 0.5859 and stop-loss at 0.4800.