Ripple consolidates in sideways price action

Yesterday the fallout in Bitcoin and Ethereum did not escape Ripple. The price fell back almost $0.10 from the top to the bottom of the day range. That in percentage terms was close to a 15% fall. The price action dynamic was almost identical to that seen in the other two coins. The drop to as low as 0.5830 was followed by a rebound, to back above 0.6550. Since then it has been trading in a largely sideways range, which today so far has been covered by 0.5956 to 0.6374. The current price is towards the upper end of that range as it trades near to 0.6250. Cleary this is still highly pivotal at current levels and continuing to consolidate the recent significant move higher. In fact, the price action is so close to that seen on Ethereum, mentioned in the previous headline. Ripple is also holding above its current 10 day moving average. That is at 0.5937 right now and has acted as a break so far on any further downside. That is well demonstrated by the low today being set just ahead of that level. XRPUSD is now trading at 0.6234