Ripple price
Ripple’s XRP, adds to its losses with another 4% on the day at the time of writing. As Ripple’s price peaked at $0.3151 on November 7, the price has only had four days of positive closes. If today’s close is in the red, twelve of the last sixteen days would have been negative.
I reported yesterday that if ripple’s price slides below the September low of 0.2196, that it would accelerate the downtrend. The price is now trading at 0.2324, just a bit more of a cent above the critical September low, and the prospect of XRPUSD are looking dim, as the bellwether, Bitcoin, just slid below the important October low. Ethereum also slid below a critical level. It is therefore unlikely that Ripple will be able to keep support by the September low, with other top coins embarking on new major downtrends.
If the September low indeed breaks, which is predetermined, by the triggering of a major ascending triangle on August 14, then XRPUSD might slide to the pattern target of $0.1382. On the way to that target, the December 2017 low at $0.1976 might offer short-term support, followed by the November 12, 2017, low at $0.1892. Other relevant levels are the $0.1664 level, and the $0.1462 level.
For the bearish pressure to decrease the ripple’s price needs to rise above the November high of $0.3149.