Ripple [XRP]: Short-term bears can gain more leverage only if…

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionAt press time,depreciated about 7% since Wednesday and was on the verge of breaching another key Fib retracement level.

Although a pullback retest on the descending line offered a recovery, it was stopped by the 78.6% Fib level and set XRP for an extended correction. At the time of writing, the price oscillated between 23.6% and 38.2% Fib levels but was on the verge of breaching the lower boundary. Also, the price could bounce to 38.2% Fib level and face rejection, offering another shorting opportunity with targets at $0.3692.

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