XRP rose to $0.78 before facing selling pressure (although Coinbase saw a spike to $0.92 before crashing in seconds). Using the Fibonacci Retracement tool, some levels where XRP could retrace to are highlighted.
Considering that the asset has more than doubled in value within a week, XRP could retrace up to 60% of the recent gains. Yet it was too early to call the local top for XRP.
The falling trading volume on a pullback suggested that further upside is possible. The price tested support at $0.62 and bounced upward after a bearish divergence on the RSI.
The momentum was still with the bulls and more buyers can be expected to arrive at the XRP market in the coming days.