Ripple correction resumes

Yesterday morning, it was noted here that that Ripple (XRPUSD) was struggling to hold onto levels above 0.60 and was in danger of resuming its corrective downside move. Well, that is exactly what happened yesterday as the price continued to edge lower. Eventually that took it below a short term technical support level around 0.58. It has extended that downside move so far today and was surely pushed lower again by the losses seen in Bitcoin. Ripple has fallen to as low as 0.5436 today it is not far above that low right now. The price looks like it might be headed for a test of the 21 day moving average that is currently in place at 0.5223. Even if that is not tested, there can be little doubt that the resumption of the corrective move lower is still unfolding today. XRPUSD is now trading at 0.5495