$XRP
XRP/USD has resumed its decline this week within the general market trend, while prices have left the boundaries of the descending triangle and broke through its lower side at 2.3438 (Murray level [4/8]). Further bearish movement targets may be 1.9531 (Murray level [2/8]) and 1.7578 (Murray level [1/8]). The main level for bulls remains at 2.7344 (Murray level [6/8]), which, if broken upwards, may allow a test of levels at 3.1250 (Murray level [8/8]), 3.3203 (Murray level [+2/8]), and 3.5156 (Murray level).
Technical indicators suggest the possibility of further decline, as the Bollinger Bands are trending downwards, the MACD is increasing in the negative zone, and the stochastic indicator is close to the oversold area, which does not rule out a potential reversal and corrective growth, but its potential seems limited.
Support and resistance levels
3.5156, 3.3203, 3.1250, 2.7344 Resistance levels
Support levels: 1.9531, 1.7578
21 Dec 2014, 29 Dec 2008, 2015, 14, 2025, 22, 2023, 2025
Trading tips
Short positions can be opened from level 2.2500 with targets at 1.9531, 1.7578 and a stop loss at 2.4700. Execution duration: 5-7 days
Long positions can be opened above level 2.7344 with targets at 2.5100, 3.1250, 3.3203, 3.5156 and a stop loss at
