Ripple joins the rest of the cryptocurrencies in declines leaving the ascending channel support vulnerable. The short-term support at $0.28 level better holds to avoid breakdown towards $0.22. The bears have in full swing resumed their control over the entire cryptocurrency market. Even assets that have been immune to losses in the past few days such as XRP are feeling the pinch. The entire crypto market is in the red with XRP correcting lower 0.89% and still counting. From an opening price of $0.2839, XRP/USD is teetering at $0.2816. The ascending channel (could also be an extended bearish flag pattern) I discussed yesterday is on the verge of giving in to the negative pressure. A break under this pattern is likely to impact negatively on Ripple price with a possibility of disintegrating to September lows under $0.22. Ripple price is trading above the Simple Moving Averages (SMAs0 whereby the confluence formed by the 50 SMA on the 720′ chart and the 100 SMA is ready to protect the downside above $0.26. The Relative Strength Index (RSI) is making a sharp retreat from the overbought; a sign of stronger bearish momentum in action. XRP/USD 720′ chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ethereum price analysis: ETH/USD dips below $175 as bears continue to be on the driver’s seat FX Street 4 years Ripple joins the rest of the cryptocurrencies in declines leaving the ascending channel support vulnerable. The short-term support at $0.28 level better holds to avoid breakdown towards $0.22. The bears have in full swing resumed their control over the entire cryptocurrency market. Even assets that have been immune to losses in the past few days such as XRP are feeling the pinch. The entire crypto market is in the red with XRP correcting lower 0.89% and still counting. From an opening price of $0.2839, XRP/USD is teetering at $0.2816. The ascending channel (could also be an extended bearish flag pattern)… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
