XRP/USD could make a new lower low over the coming days.

XRP/USD remains in a bearish trend for the last few months. Price continues making lower lows and lower highs. Current price action remains weak and price is vulnerable to another sell off and a new lower low towards $0.40.

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Green rectangle- major resistance

Blue lines - Fibonacci retracement levels

XRPUSD is still trading below the key horizontal resistance area. Price has retraced 78.6% of the entire 2021 rally. It would be very interesting to see if and when price makes a new lower low, will the RSI follow or we will see a bullish divergence. So far price action has not given us any bullish reversal signal. Bears remain in full control of the trend. Breaking above $0.75 would be the first bullish signal after a long time. At current levels I prefer to be neutral and not bearish as I believe the downside potential in XRPUSD is limited.




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Alexandros Yfantis
Analytical expert
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