Ripple Price Prediction: Daily Development – XRP Continues the descending Trend
Ripple price has continued over Sep 22 its downtrend against the USD and Bitcoin’s market. It is much likely in the near term the descending will extend and hitting below $0.1700 could take place.
Ripple Breaking Lower – XRP/USD
Since almost making it above the $0.1900 mark, Ripple price did meet selling pressure resulting with a slow declining movement. It was predicted that the pair would be hitting below $0.1700 while it did deep-dive lower than the $0.1750 and a spiking break of the 50% Fib retracement mark since the recovery flow $0.1500 to $0.1970.
A bearish trend is taking over as the pair XRP/USD is quite below positioned than the 100 hourly SMA. The $0.1677 level will be acting as a support which is positioned at the 61.8% Fib Ret level of the above mentioned wave. Very important double bearish trends are forming: one in the longer term at $0.1800 and the other on the hourly chart of XRP against the US Dollar close to $0.1880.
So, in conclusion for the near term – many more hurdles will be found to move upward aiming the $0.1900 level making recovery and price return very difficult. Because of the support, a retest of $0.1650 could take place for the moment.