Ripple steady following 20% rebound gain yesterday

In a move that was remarkably similar to that just noted here on Stellar, Ripple rebounded almost as impressively yesterday. Earlier in the session the price had slumped to as low as 0.5037. That move lower had accelerated once the price broke below the 21 Day moving average that was in place at 0.5217. However, once the price recovered above that level it did not look back and continued to make progress. That eventually led to a move back above 0.60 ahead of the US close. Hence, that constituted a gain of more than 20% for Ripple from the lows yesterday. Today the price has drifted lower from the highs, which is perfectly understandable. The range today so far has been covered by 0.5640 to 0.6040 and it has just lifted from that low end in recent trading. The price action is clearly pivotal right now, but with a potential upside bias. A move back above 0.6050 from here could deliver some more traction. Conversely, back underneath 0.5630 could reopen the downside again. XRPUSD is currently trading at 0.5835