Ripple continues to chop off gains within a descending channel as recovery becomes untenable. The RSI signals point towards continues bearish dominance in the coming sessions. Ripple is falling back in the red after the recovery staged on Monday, fizzled out short of $0.23. The cryptoasset’s value has been gravitating within a descending channel. The channel has been tested severally on both sides. A break above the channel resistance could boost XRP in its mission to correct the damage caused in the last few days. XRP/USD is teetering at $0.2176 and grinding towards the immediate support at $0.21. The price is below the moving averages. In other words, the 50 SMA on the 4-hour chart is pressing down on XRP at $0.23 while the 100 SMA stands at $0.2553. Ripple price recovery will not come easy as long as the RSI stays close to or below 30. The current trend is pushing from levels above 40 to 39. The gradual slope of the RSI hints that the path of the least hurdles is to the south. To be on the safe side, Ripple must correct above $0.23 and focus of levels above $0.25 to $0.30. XRP/USD 4-hour 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 Fitch: APAC sovereign outlook stable despite growth challenges FX Street 3 years Ripple continues to chop off gains within a descending channel as recovery becomes untenable. The RSI signals point towards continues bearish dominance in the coming sessions. Ripple is falling back in the red after the recovery staged on Monday, fizzled out short of $0.23. The cryptoasset's value has been gravitating within a descending channel. The channel has been tested severally on both sides. A break above the channel resistance could boost XRP in its mission to correct the damage caused in the last few days. XRP/USD is teetering at $0.2176 and grinding towards the immediate support at $0.21. The price… 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.
