- Ripple is trading nearly 1% lower on the session in another mixed day for cryptos.
- There is a support zone that matches the 23.6% Fibonacci retracement zone.
XRP/USD 4-hour chart
Ripple has been pulling off best levels recently as the crypto bull market fizzles out. The price broke the purple trendline on the 4-hour chart below and had a textbook retest before a move lower. Now it seems the bears have stumbled on the 23.6% Fibonacci level which confluences with a resistance zone of old. 0.1825 had been used as a resistance zone twice on the chart and then as support more recently on 10th April earlier in the month.
Looking ahead now the 0.1825 level is looking vulnerable once again and could break if another bout of selling pressure kicks in.If it does the next potential support level could be 0.17 which was also respected previously.
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Additional levels