Given the strong multi-month downtrend, XRP cryptocurrency be expected to fall further to the next support level 1.3395 (which stopped multiple downward waves from the end of last month – a,ii and ii, as can be seen from the daily Ripple chart below).
- XRP reversed from key resistance level 1.600
- Likely to fall to support level 1.3395
XRP cryptocurrency recently reversed from the resistance area between the key resistance level 1.600 (which has been reversing the price from January), upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from the start of January. The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Long-Legged Doji (the price also formed the daily Japanese candlesticks reversal pattern Evening Star in the middle of February, when it stopped the previous correction 2).
Given the strong multi-month downtrend, XRP cryptocurrency be expected to fall further to the next support level 1.3395 (which stopped multiple downward waves from the end of last month – a,ii and ii, as can be seen from the daily Ripple chart below).
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