XRP/USD Still Down.What's Next???

Ripple has lost nearly six percent in the past 24 hours. The currency pair is above the descending trend line but bulls still seem to be unable to change the situation significantly as the price continues to slide down.
Let’s have a closer look at the situation on the Hourly chart. Ripple followed the Orange scenario during the weekend, but started this new week with a serious decline. XRP/USD managed to fall down towards 2.618 retracement and established a new local low.
Possible scenarios for Ripple are the following:
1. Red scenario (bearish). Ripple will develop its downside progress targeting new local lows.
2. Orange scenario (neutral). The price will run towards the closest resistance area at $0.5914. XRP/USD is likely to reverse afterwards.
3. Green scenario (bullish correction). XRP/USD will reach the closest resistance area at $0.5914 and cross it targeting the next 1.618 retracement area, which coincides with $0.6216 resistance area.
Neutral scenario seems to have better chances on Monday.

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