#XRPETFs

Fibonacci retracement is a popular technical analysis tool used by traders to identify potential support and resistance levels in financial markets. It is based on the Fibonacci sequence, particularly the key ratios: 23.6%, 38.2%, 50%, 61.8%, and 78.6%. Traders draw Fibonacci levels on a price chart from a significant high to a low (or vice versa) to predict where price corrections might pause or reverse. These levels often act as psychological barriers, where buying or selling interest emerges. Fibonacci retracement helps traders determine entry and exit points, set targets, and manage risk effectively.