Ripple XRP's native token is currently in a small bearish pullback above $ 0.1852 after losing -4.9% falling from $ 0.1953. Unfortunately the scenario is not anything positive for this cryptocurrency and for the rest of the market, it seems that the correction will extend far beyond the 23% Fibonacci where we were yesterday.
This small pullback could surely reach that 23% fibonacci right where the 200-period EMA is also located, these two serve as dynamic resistance in the price and represent a key point on the chart for the short term. If the price manages to exceed that area around $ 0.1873 it would be a good indication, but unfortunately we are very close to the pivot point of the week that will surely fully stop any attempt to move above that area.
The most likely scenario is to see a bearish move up to S1 that coincides with 38% Fibonacci at $ 0.1775, this point seems to be more attractive for buyers to activate their orders and see XRP bounce back to the upside. All this will clearly depend on the volume of trade that we see above these levels. If that support breaks, we will enter a very delicate situation, seeking prices below $ 0.170.