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XRPUSD vulnerable to more downside.

XRPUSD continues to trade below the $1 price level. The last couple of sessions no progress was made, price is mostly moving sideways. However I believe the most probable outcome would be for price to remain under pressure.

analytics6152333748716.jpg

Green lines - Fibonacci retracement

XRPUSD is making lower lows and lower highs. So far price has retraced 61.8% of the upward movement from $0.51. The RSI has not provided us with a bearish divergence yet. Bears remain in full control of the trend. My next downside target for XRPUSD is between $0.75 to $0.70.

The material has been provided by InstaForex Company - www.instaforex.com