Ripple Technical  Analysis: XRP/USD crashes lower out from a rising channel, downside target for a potential retest of $0.50 again

• Ripple price was smashed on Monday, huge under-performer, down around 7%.
• XRP/USD price crashed out from a rising channel pattern, clearing the vital support around $0.5600.

XRP/USD 60-minute chart  

Spot rate:                   0.54350

Relative change:       -6.80%

High:                          0.60588

Low:                           0.53117

Trend:                        Bearish

Support 1:                  0.53100, support on 60-minute chart.

Support 2:                  0.51050, demand zone.

Support 3:                  0.50000. psychological support.  

Resistance  1:             0.56000, underneath breached channel & 100MA (60-minute).  

Resistance  2:             0.57920, 50MA (60-minute).  

Resistance  3:             0.62300, upper part of channel.