Ripple (XRPUSD) moves closer to a test of 0.25

Yesterday, Ripple (XRPUSD) did reach 0.26 but it failed 3 times to get above that level and subsequently fell back again. That move led to a drop below 0.2550 around the time of the 4pm London FX fix. It has tried to rebound again since but the earlier rebound topped out just above 0.2580 during the Asian session today. Since then it has been struggling again and gradually leaking lower. That downside move has actually extended in the last few minutes as the drops to a fresh low on the week, breaking underneath 0.2520. The move lower may be led by Bitcoin which has just now fallen below 11,400. That is not clear, but what is clear is that Ripple is under pressure having dropped below a series of short term trend line supports. Once again, unless it can reclaim 0.26 on a sustained basis then the immediate risk would seem to lie with a deeper move below 0.25 and there may be stops in place below this level now. XRPUSD is just now trading at 0.2510