#MyFirstFeedPost Using the Fibonacci retracement tool on the hourly timeframe, we can see that the most recent swing high was at $0.78 on December 4, and the most recent swing low was at $0.51 on December 10. Drawing a line from the swing high to the swing low, we can see the Fibonacci retracement levels on the chart4

As of December 10, the price of XRP was trading around $0.54, which is slightly above the 23.6% Fibonacci retracement level. This means that the price has retraced about 23.6% of the previous downtrend, and could potentially find some support at this level. However, if the price breaks below this level, it could indicate a continuation of the downtrend, and the next possible support level could be at the 38.2% Fibonacci retracement level, which is around $0.594

On the other hand, if the price bounces back from the 23.6% Fibonacci retracement level, it could indicate a reversal of the downtrend, and the next possible resistance level could be at the 50% Fibonacci retracement level, which is around $0.65. This level is also close to the 200-period moving average, which is a common indicator of the long-term trend. If the price breaks above this level, it could signal a change in the trend, and the next possible resistance level could be at the 61.8% Fibonacci retracement level, which is around $0.704