By Dmitriy Gurkovskiy, author at RoboForex Blog
On Friday, June 26th, the XRP positions remain weak. The cryptocurrency is generally trading at 0.1818 USD, and the attempts of bounces look too timid to turn out productive.
On D1, XRP/USD keeps forming a downtrend. After a bounce off 32.8% Fibo, the quotations are heading for 23.6%, which currently may indicate further declining. If this level is broken away, the pair has all chance to reach the next level of 0.0%. The only possible growth is a minor correction inside the descending channel. The MACD histogram is below zero, while the signal lines have formed a Golden Cross, giving an additional signal of a further decline. The aim of falling is 0.1455 USD.
On H4, the pair keeps declining inside the descending channel. It is currently testing 0.0% Fibo. If the quotations break this level away, this will mean a further decline. The Stochastic is forming a Golden Cross, which may predict a minor correction in the overall decline. The aim of the pullback will be 23.6%…