XRPUSD remains under pressure with price trading at the beginning of this week around $0.67. As we mentioned many times before in our analysis, as long as price remains below the major resistance trend line and upper triangle boundary, XRPUSD is vulnerable to a move lower towards $0.50.
Green line- major horizontal support
XRPUSD is vulnerable to more downside as long as it trades below $0.87-0.88. After the rejection at $0.91 short-term trend remains bearish. Bulls do not want to see price break below $0.50 and the green horizontal support. This would be a major bearish signal and can bring XRPUSD towards its lows of $0.25. There is a lot of room for XRPUSD to continue its sideways move inside the triangle pattern. The case of the SEC against Ripple continues to drag and this is clearly depicted in the absence of trend in the weekly chart.
