Ripple has seen a larger than expected decline from 1.9670 and could move closer to strong support near 0.7765 as long as resistance at 1.1775 is able to cap the upside. A break above resistance at 1.1775 will indicate a corrective low being in place, while a break above resistance at 1.4200 confirms the corrective low. If so, the next impulsive rally to 1.9670- 2.7500 and possibly closer to 3.3180 may occur.
Trading recommendation:
Buy Ripple near 0.7765 or upon a break above resistance at 1.1775 for a rally towards 2.7500.
