- Ripple is trading over 4% lower after another down day for cryptocurrencies.
- 0.25 was used as an important support and resistance zone in the past so let see how it works out this time.
XRP/USD Daily Chart
There is a good support zone at the 0.25 level which confluences with a trendline on the chart below.
Cryptocurrencies are having another tough session today after losing ground on Monday too.
The next main Fibonacci level (61.5%) is slightly lower down and the price could also test that area.
From a candlestick perspective, the chart is still looking very bearish but we would need to see how today’s candle closes for confirmation.
If there is a bounce off the support zones, the psychological 0.30 level could be a target for the bulls.
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