Ripple Pullback

Ripple has continued to pullback slightly, unable to make another attempt for the nested Fibonacci Anchor at $1.12. We've been highlighting this as a significant sticking point for days now. We appear to be floating between this level of resistance and the nearest level of support at $1.03. The next level of support is the psychological $1 mark, which still coincides with the central moving average of the KRI and a congestion zone. Further, we have strong support from nested Fibonacci levels at $0.95, $0.90, $0.85, and $0.79, though it is unlikely we will retrace this far. The pullback we are seeing is anticipated, but eventually we are likely to make another run for $1.12. After that, we have a vacuum zone, which persists until $1.22, a Fibonacci Extension level, then $1.32, where the upper bound of the KRI is currently.

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