$XRPUSD Quick to Dead the Bull
Daily (Zoomed Out)
XRP remains to follow downtrend since ATH with no major signs of reversal. Chart shown above shows price making a move towards $0.5200 only to continue following its downtrend and price is now at $0.2217 as we speak. Price has dropped as low as $0.20 and we should expect a retest here soon.
Daily (Zoomed In)
Zooming in on our same time frame we see a couple of wicks from $0.2110---$0.2200, this could be a potential support zone. Stochastic RSI showing momentum remains in favor of the bulls however price action is showing otherwise. Somethings to look out for at this level are as follows:
1.) Price to fill in the wick as low as $0.1995
2.) A double bottom to form above $0.2200
3.) Consolidation at this price level until the next bull market.
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