Ripple (XRPUSD) edging backwards again

There is little doubt that the more than 20% rebound gain for Ripple (XRPUSD) earlier this week was impressive. However, since recovering from just above 0.50 on Wednesday, the leading Alt coin was not able to make any progress back above 0.60 yesterday. That failure has led it back down again today and earlier on it dipped briefly below 0.55. It is back above that level now, but the current price action does not look that convincing. Obviously, the current price is midway between 0.50 and 0.60 which endorses a pivotal outlook at the moment. However, the downside is at risk of a deeper correctional move still so that needs to be taken into close consideration, bearing in mind just how far this coin has travelled over the past couple of weeks. XRPUSD is now trading at 0.5515