Against the background of the possible imminent completion of the lawsuit by the US Securities and Exchange Commission (SEC) against Ripple Labs, the token price rose to five-month highs around 0.5548, after which it resumed its decline, which continues to this day. Now the quotes are close to the 0.4000-0.3906 support zone (the middle line of the Bollinger Bands, Murray [0/8]), the breakdown of which will open the prospect of a further decline to 0.3418 (Murray [-1/8]), 0.3200, 0.2930 (Murray [-2/8]). With a reverse breakout of 0.4395 (Murray [1/8], Fibo retracement 23.6%), the instrument is likely to return to 0.4883 (Murray [2/8]) and 0.5219 (Fibo retracement 38.2%).
Technical indicators do not give a single signal: the Bollinger Bands are reversing upwards, confirming the preservation of the short-term upward trend, but the Stochastic is directed downwards, and the MACD histogram is decreasing in the positive zone, not excluding the development of a decline.
Resistance levels: 0.4395, 0.4883, 0.5219 | Support levels: 0.3906, 0.3418, 0.3200, 0.2930