XRP has had a vast rallye from ~0.29$ to 0.32$ and it seemed that this could give a nwe sign of strength.
But it lost its momentum and fell back out of the narrow trend channel.
I now expect it to test a second time the support at ~0.29$.
As XRP is still in a negative trend channel and within a move that would lead it to the bottom of this channel a continuation of the negative trend wouldn´t be too surprisingly.
The second support will be on ~0.25$ (swing trend line, the third support will be the lower limit of the trend channel, also fib retracement 0% at ~0.20$.
This had been the beginning of the rallye in 2017! Beyond this level we can consider the whole movement to be ended.
But it lost its momentum and fell back out of the narrow trend channel.
I now expect it to test a second time the support at ~0.29$.
As XRP is still in a negative trend channel and within a move that would lead it to the bottom of this channel a continuation of the negative trend wouldn´t be too surprisingly.
The second support will be on ~0.25$ (swing trend line, the third support will be the lower limit of the trend channel, also fib retracement 0% at ~0.20$.
This had been the beginning of the rallye in 2017! Beyond this level we can consider the whole movement to be ended.