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Green line- support trend line
Blue lines- bearish channel
After breaking below the green upward sloping support trend line at $0.5150, XRPUSD has changed short-term trend to bearish and has started making lower lows and lower highs inside the blue downward sloping channel. Short-term resistance by the blue channel is found at $0.4920. Price is moving lower approaching our $0.46 target area. Bears remain in control of the near term trend. The RSI has just provided a bullish divergence but this is not a reversal signal. Only a warning. XRPUSD could continue moving lower towards the lower channel boundary at $0.4650.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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