Ripple (XRP) Tumbles 20 percent, Why It Should Measure $0.20

Major Signals

• Ripple began a fresh fall from just above the $0.2800 support zone to the US dollar.
• The stock is now just below $0.2500 with a simple moving average of 100.
• There is a significant bearish trend line creating a barrier of around $0.2460 on the

After a rapid fall, the XRP price of ripple began a respectable recovery surge. It breached the resistance thresholds of $0.3000 and $0.3200, but it struggled to remain higher. A swing high was formed about $0.3867 before the bears gained charge.

There was another rapid fall, and the price dropped below the $0.3000 support. The market broke the $0,2800 support and was far below the 100 simple moving average (4-hours).

There was also a break below the 61.8 percent Fib retracement stage of the turnaround wave from the $0.2004 low to $0.3867 maximum swing. It opened the gate for further downsides under $0,2400. There is also a primary bearish trend line establishing a resistance of around $0.2460 on the 4-hour XRP/USD pair map.

Price is still trading below the 76.4 percent Fib retracement stage of the rebound wave from the $0.2004 low to $0.3867 peak. It appears that bears are likely to see further losses below $0,2200. The next primary support is near the $0.2000 mark.