FX.co ★ XRPUSD vulnerable to a move towards $0.29

Red line- major resistance

Blue lines- trading range

XRPUSD is trading around $0.32 still inside the long-term trading range its been in since June. Today's candlestick pattern is a bearish pattern and implies that more downside should be expected for XRPUSD. As long as XRPUSD is below the major resistance trend line, long-term trend remains bearish. The trading range marked with blue parallel lines in the chart above, provides us with our short-term downside target. The lower channel boundary at $0.289 is our first target. If price breaks down below the trading range we should expect XRPUSD to reach $0.15.