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- The XRP/USD pair is trading at **0.50667 USD** as of 07:42:15 GMT+02:00 on February 6, 2024.

- The pair is in a **sideways trend** on the one hour chart, as indicated by the price fluctuating between the **0.50000 USD** and **0.52000 USD** levels, and the moving averages converging around the price.

- The pair is **neutral** on the one hour chart, as indicated by the RSI around 50, the Stochastic RSI crossing over at the middle, and the CCI around zero.

- The pair is facing **strong resistance** at the **0.52000 USD** level, which is the upper boundary of the range, the 50% Fibonacci retracement level of the recent decline from 0.53333 USD to 0.50667 USD, and a previous support-turned-resistance level¹²³.

- The pair is also facing **weak support** at the **0.50000 USD** level, which is the lower boundary of the range, the 23.6% Fibonacci extension level of the same decline, and a psychological round number¹²³.

- A possible **entry point** for a short position is at the **0.51778 USD** level, which is the 38.2% Fibonacci retracement level and a previous support-turned-resistance level¹²³.

- A possible **exit point** for a short position is at the **0.50222 USD** level, which is the 161.8% Fibonacci extension level and a previous resistance-turned-support level¹²³.

- A possible **entry point** for a long position is at the **0.50222 USD** level, which is the 76.4% Fibonacci retracement level and a previous support-turned-resistance level¹²³.

- A possible **exit point** for a long position is at the **0.51778 USD** level, which is the 23.6% Fibonacci retracement level and a previous resistance-turned-support