Ripple still sideways as the consolidation continues

Since falling sharply on Tuesday Ripple has been struggling to regain upside momentum. The high set last week reached above $0.78. Since then the price has fallen back to as low as 0.45 before rebounding back above 0.68 earlier this week. Clearly the major downside move was a technical correction based in part on profit taking, following such a huge move higher over such a short space of time recently. The price action yesterday was indeed thoroughly sideways, as was suggested would be likely. The price action today is generally similar, but with a slightly more downside bias. Ripple has so far failed to get back above 0.65, but at the same time is has held above 0.60. The double top in place just above 0.68 has continued to cap the topside this week and unless there is a break above this level, then there is a risk another leg lower, beyond the current low this week at around 0.585. XRPUSD is now trading at 0.61