Ripple Technical Analysis: XRP/USD is trading within a worrying ascending channel, after its heavy decent from earlier in month, another drop looks probable

• Ripple was trading marginally in negative territory on Friday, as the crypto market is seen soft across the board.
• XRP/USD price action since the drop from 18th July, has formed a ascending channel pattern, which is subject to a potential drop south.

XRP/USD 60-minute chart

Spot rate:                     0.44939

Relative change:         -0.02%

High:                           0.45394

Low:                            0.44472

Trend:                         Neutral/Bearish

Support 1:                  0.44790, lower part of ascending channel.

Support 2:                  0.43788, 24th July low.

Support 3:                  0.43285, demand zone.

Resistance 1:             0.4560.9, 100MA.

Resistance 2:             0.45833.0, 50MA.

Resistance 3:             0.46800, resisting area as seen on 24th & 25th July.