Ripple (XRPUSD) holds 0.2290 support level for now

Yesterday the likes of Bitcoin and Ether were not the only major coins to feel the heat of the equity market risk aversion. Losses across the sector were widespread and that certainly applied to Ripple (XRPUSD) too. The coin continued to break down below all interim support levels as it fell below 0.24 and then below 0.23. However, the noted here, the major support level at 0.2290 did manage to cap the sell off. The low printed yesterday was set at 0.2292. Today it has traded in a range of 0.2294 to 0.2345 so far. The earlier rebound to 0.2345 has now seen the price drop to that low at 0.2294 a few moments ago. Clearly there is a risk that 0.2290 will not continue to cap the downside. If that is the case, and certainly the current chart set up suggests it could be, then the next support level on the downside comes into play at 0.2207. That level represents a 50% retracement of whole, post March 2020 upside move, from the low at 0.1141, to the recent high at 0.3273. XRP/USD is just now trading at 0.2310