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Ripple (XRPUSD) unable to reclaim $0.30 so far today

19 Nov, 2020

The move lower in the price of Bitcoin yesterday afternoon naturally had a reaction across the wider cryptocurrency space. It sent Ether and Monero lower for sure and it also helped to halt the recent rebound in Ripple. Prior to that Ripple had managed to rise close to $0.31 but the move lower in Bitcoin was accompanied by an equally sharp sell off there too. The price dropped to as low as 0.2830. That low almost matched the previous Asian low at 0.2815. Consequently, it was identical in nature to that seen in Bitcoin over equal time frames. Earlier today Ripple tried to recapture levels above 0.30 again, but stalled just ahead of 0.2970 where there is now a clear interim double top in place. The subsequent move lower today has seen it track the path of Bitcoin once again in relative terms, as it now falls closer to the low seen late yesterday afternoon. The clear and immediate risk; is that the price continues to fall back below, both 0.2830 and 0.2815 and accelerates more to the downside. In order to avoid that it will need to make a sustained move back above 0.2970. XRPUSD is just now trading at 0.2865

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