Looking at the four hour chart for Ripple, we can see that it has broken below the small (maroon dashes,) and is now testing support, at the 61.8% retrace. We can see that the 618 has already been pierced, indicating weakness in the level. A slide lower should ensue, as momentum expands to the downside, and increases. Just below, support rests around $1.10. Below that, XRP should test the blue again, and perhaps penetrate it, to reach my target. Looking closer at the chart, we can see that after XRP fell below the neckline on the pattern, it rallied back up to test it, but quickly fell back below. Since then, we haven't been back up to test the neckline, so it is now confirmed as major overhead resistance. Therefore, the upside is very limited, but the downside is wide open. The bears are in full control of this market, as the selling continues to overwhelm the buyers. Stay on your toes people. The bears aren't done.
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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