Ripple’s XRP Technical  Analysis: XRP/USD next support failing to hold could be catastrophic, as  chunky sellers pile in

• Ripple’s XRP price was trading down heavily on Thursday, over 6% in the latter part of the session.
• XRP/USD saw a big daily rejection by an upper descending trend line, firm eyes on support around $0.5000 area.  
• Further south, ascending trend line on the daily, tracking at $0.4800, a failure to hold here could be catastrophic.

XRP/USD daily  chart  

Spot rate:                   0.5037

Relative change:       -6.43%

High:                          0.5437

Low:                           0.5013

Trend:                        Bearish

Support 1:                 0.5000, big psychological area of support.  

Support  2:                  0.4981,  daily pivot point support.

Support  3:                 0.4800, ascending daily trend line.  

Resistance  1:            0.5525, daily pivot point resistance & upper trend line.

Resistance  2:            0.5667,  daily pivot point  resistance, 6th November high.  

Resistance  3:            0.5797,  daily pivot point  resistance, 2nd October high.