Ripple- New leg down?
We all know that Ripple fell about 80% and the reasons for this, so I will not get into details...
From the technical point of view, after this spiral down, XRP found some support around 0.16 and a correction has started. Looking at H1 chart we can see that this correction staled at 0.25 zone and we can clearly see a strong resistance here. The rise from 0.16 is in a flag and I expect a new leg down from this cryptocurrency.
Confirmation for sellers comes with the price under 0.22 and 0.15 could be the target. Rallies towards 0.25 should be sold and, on the other hand, a break above this resistance would signal a deeper correction and expose 0.30 zone.
From the technical point of view, after this spiral down, XRP found some support around 0.16 and a correction has started. Looking at H1 chart we can see that this correction staled at 0.25 zone and we can clearly see a strong resistance here. The rise from 0.16 is in a flag and I expect a new leg down from this cryptocurrency.
Confirmation for sellers comes with the price under 0.22 and 0.15 could be the target. Rallies towards 0.25 should be sold and, on the other hand, a break above this resistance would signal a deeper correction and expose 0.30 zone.
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