Ripple Price Analysis: XRP/USD symmetrical triangle breakdown gravitates towards $0.20
|- Ripple downward momentum is unstoppable and targets November low around $0.20.
- Ripple price technical picture remains bearish and likely to continue into the coming sessions.
Ripple bulls are unable to stop the downtrend momentum after breaking the symmetrical triangle support. The short-term support at $0.22 failed to contain the decline. In the wake of the 2% loss on the day, XRP is teetering at $0.2139.
Technically, the bearish momentum could remain intact a while longer. The RSI already hit the oversold region. Besides, the downward slope suggests that the sellers have the upper hand.
Unless the bulls defend the support at $0.2100, Ripple has the potential to explore the lows towards $0.2000. Moreover, to come out of the downtrend momentum, the buyers must target to recover the support at $0.22 and focus on the price action in the direction of the $0.24 supply zone.
XRP/USD 4-hour
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