Ripple crashed in the second part of the day and now is trading at 0.5126. It has dropped by 6.36% from today's high of 0.5471. Bitcoin's sell-off forced the altcoins to drop as well. Still, this could be only a temporary retreat before jumping higher again.
In the last hour, XRP/USD is down by 0.31% but it's still up by 0.92% in the last 24 hours. BTC/USD larger drop should force the altcoin to approach and reach new lows as well.
XRP/USD Range!
Technically, XRP/USD failed to stay above 0.5290 and now is almost to hit the median line (ml) of the ascending pitchfork. Still, the bias remains bullish as long as it stays above the median line (ml).
The 0.4980 range's support represents a critical downside obstacle. In the short term, Ripple could continue to move sideways before developing a sharp movement.
Ripple Forecast!
Staying above the median line (ml), registering only false breakdowns may announce a new bullish momentum. Still, only a valid breakout above 0.5290 is seen as a good long opportunity.
