Ripple still licking its wounds following 30% slump yesterday

Yesterday morning it was noted here; that Ripple (XRPUSD) had nailed a major retracement objective when it reached levels above $1.40. At the time of that update the price had already dropped back below $1.30 and was on a path lower. The update here mentioned the risk that the recovery might have run its course but an instant drop the same day was not necessary forecast here. Well, that is what took place as the price melted below $1. Of course it was delivered by corresponding moves in the likes of BTC and Ether and perhaps due to some major exchanges suffering outages at the same time as the meltdown occurred. To be honest I do not think many people were prepared for the moves that unfolded and clearly stops were rampant in making that a really significant fall. XRP fell to as low as $0.9686. Hence that was a fall of over 30% on the day, making it one of the worst affected coins by this meltdown. XRPUSD has not fully recovered from that shock today. The range so far has been covered by 1.0735 to 1.1481. It is currently trading at around $1.10