In this Weekly chart of Ripple
/ United States dollar (XRP/ USD)
, we can observe a depreciating range from 0.5175
We can also observe that the market then appreciated to the 0.206
level (identified by the yellow down arrow), just below the 23.6% retracement
of the depreciating range at the 0.206552 level.
Additionally, we can observe that XRP/USD then depreciated to the 0.1791
level, just below the 9-week Simple Moving Average.
We can observe that the 0.1791 level was just below the
0.183462 level, representing the 23.6% retracement of the appreciating range
from 0.1105 to 0.206.
If XRP/USD resumes its depreciation, price retracement
levels below the current market include the 0.169519 (38.2% retracement),
0.15825 (50% retracement), 0.146891 (61.8% retracement), and 0.130937 (78.6%
retracement) levels. The pair's medium-term range has been lower.
If XRP/USD resumes its appreciation, price retracement
levels above the current market include the 0.265974 (38.2% retracement), 0.314
(50% retracement), 0.362026 (61.8% retracement), and 0.430402 (78.6%
retracement) levels. An appreciation would represent a countertrend move.