Current trend

The XRP/USD pair is moving within the medium-term sideways range of 0.6348–0.5020 (Murrey level [5/8], Fibonacci correction 23.6%). At the beginning of the month, the price dropped to its lower border amid a probable slowdown in the rate cuts by the US Fed. However, over the past two weeks, the quotes have been trying to resume growth and regain lost ground. Currently, the asset is testing the middle line of Bollinger Bands 0.5615 (Murrey level [3/8]). Consolidation above will allow it to grow to ​​0.5859 (Murrey level [4/8]), 0.6146 (Fibonacci correction 61.8%), and 0.6348 (Murrey level [6/8]). After consolidation below the border of the sideways range of 0.5020 (Fibonacci correction 23.6%), the price may reach ​​0.4639 (Murrey level [–1/8]) and the July low of 0.4300.

Technical indicators maintain a sell signal: Bollinger Bands and Stochastic are reversing downwards, and the MACD histogram is decreasing in the negative zone. The long-term downward trend continues, increasing the likelihood of a further decline.

Support and resistance

Resistance levels: 0.5615, 0.5859, 0.6146, 0.6348.

Support levels: 0.5020, 0.4639, 0.4300.

Trading tips

Short positions may be opened below 0.5020, with the targets at 0.4639, 0.4300, and stop loss 0.5260. Implementation period: 5–7 days.

Long positions may be opened when the price consolidates above 0.5859, with the targets at 0.6146, 0.6348, and stop loss 0.5680.