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  • Ripple bears gather pace, aiming for a test of $0.20 mark.
  • Correction to extend in the near term amid bearish technical set up.
  • Hourly RSI is heading into oversold territory, still not out of the woods yet.

Ripple (XRP/USD) is extending Sunday’s losses and the correction from the seven-week highs of 0.2357 reached last Thursday. The price met fresh supply in the last minutes and now loses nearly 5% to trade around 0.21 region, quickly reversing a dip to 0.2073 low. The third-most favorite cryptocurrency has started out a fresh week on a bearish note, tracking the negative sentiment across the crypto space. Its market capitalization stands at $9.34 billion.

 

more to come …