Ripple Technical Analysis: XRP/USD slammed almost 20% in the past two days, price saved for now by buying around the $0.55 area

• Ripple price added to the deep losses encountered over the weekend, down 1.4% on Monday.
• XRP/USD has fallen almost 20%, from heights of $0.68 down to $0.55.
• The near-term bear move may not be over yet, could very much just be a deep breath before further commitment.

XRP/USD 60-minute chart

Spot rate:                                     0.5726

Relative change:               -1.35%

High:                                                     0.5916

Low:                                                       0.5582

Trend:                                                   Bearish

Support 1:                                   0.5515 (support on 60-minute chart).

Support 2:                                     0.5440, 29th May low.    

Support 3:                                     0.4915 (support on 60-minute chart).

Resistance 1:                           0.5755 (resistance on 60-minute chart).

Resistance 2:                           0.5928, resistance on 60-minute chart).

Resistance 3:                           0.6071, 50MA.