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Is the pull back over in XRPUSD?

XRPUSD has made a low at the recent pull back at $0.85 area. This pull back was anticipated for some time now and we also mentioned that the 61.8% Fibonacci retracement is a very likely price level to see price reverse trend.

analytics61571b7c0e3d3.jpg

Green lines - Fibonacci retracement

Red lines- Fibonacci extension

XRPUSD has made a low at the 61.8% Fibonacci retracement and is turning higher. Price has now started making higher highs and higher lows. There are increased chances that price made a major low at $0.85 and a new upward move has started. For this to be true, price must not break below $$0.88. Our first upside target is at $1.39. This remains true as long as price is above $0.88.

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