By Dmitriy Gurkovskiy, Chief Analyst at RoboForex
On Friday, February 19th, the XRP is consolidating, balancing near 0.5280 USD after a rather volatile week.
On D1, XRP/USD keeps correcting upon sky-rocketing. We suggest that currently, the quotations can break through 61.8% Fibo and go on declining. The aim of the pullback is 0.4495 USD (50.0% Fibo). The MACD histogram is above zero, declining, which is another signal for further correction. Upon testing 50.0% Fibo, the pair might develop ascending dynamics with the aim at 0.7100 USD.
On H4, the quotations are testing 61.8% Fibo. They might break through it and head down for 50.0%. The Stochastic has formed a Black Cross near 80 and keeps declining, giving another signal for a pullback. When the correction is over, the pair might resume growth in the nearest future. The aim of the growth is the same as on the larger TF – 0.7100 USD.
The representatives of Ripple and the US SEC failed to come to an agreement and settle their argument out of court. They could settle their argument…