Ripple at risk of testing major support level

The drop back in many of the leading cryptocurrencies so far today has not been lost on Ripple (XRPUSD). The price has been unable to make any headway back above $1 since the last update here yesterday on its progress. It was noted then; that Ripple was camped below $1 and that is where it remained until today. It simply could not get back above that level and eventually that failure took it lower into the wider US market close. Indeed, that move to the downside as been extended further today as the price drops to a session low so far at 0.8280. The price has now broken below its previous interim low which is not exactly surprising when looks at the current downside move in Bitcoin. The implications of this latest drop are that Ripple is now not far away from another test of the important 200 day moving average. That moving average managed to cap the downside on the last major fall back and may yet do so again, but that is by no means a certain prospect. The 200 day moving average is still rising and comes into play today at 0.7105. XRPUSD is currently trading at 0.8480