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XRP tries to overcome significant resistance but bears activate their orders over $ 0.2400.


The native token of Ripple, XRP, at the moment in a slightly abrupt retreat in the same sail from 0.2416 to 0.2348, around -2.95%. As you can see there is a great fight over the 23% Fibonacci level, the bears have activated their sales orders in that area to not allow the price to exceed previous highs.

At the moment the volume is very positive in XRP, let's see if it can overcome significant resistance this week. 23% fibonacci over $ 0.238 and R1 at $ 0.244 are two areas of great importance, consolidating on top of these would mean the end of the technical correction where the price had entered.

The graph shows how the price had fallen to $ 0.211 between the 50% – 61% fibonacci level. The rebound has occurred over that area, rising almost 10% since then.

The volume at the 23% level break must be high, otherwise we have the possibility of seeing a step back on these resistances. This week the pivot point and R1 are key in the price of XRP. A downward break of $ 0.22 could mean a further pullback and a much longer correction even below $ 0.21.

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