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  • Ripple has not escaped the crypto rout today and XRP/USD has fallen over 7.5%.
  • The next main support zone looks like it might be the psychological 0.20 level.

XRP/USD Daily Chart

Could this chart show that the recent Ripple rally was just a deep retracement of the downtrend?.

The price fall from the 0.3463 high has been pretty dramatic.

Now the price is heading toward the 0.20 support level. This level has been used on 4 strong occasions. 

Beyond that, the 0.1760 wave low could be the main base-level support.

The overall sentiment of this market is still bearish and lower level look likely to be tested.

Ripple

Additional Level