Hi friends! Welcome to this update analysis on Ripple! Let's jump right in. Looking at the four hour XRP chart, we can see that it's still trading inside of the maroon downtrend channel . Over the past 24 hours, XRP has attempted and failed to get above the top of the channel, as it continues to grind lower. We can see that XRP is caught between support and resistance levels as well. On the upside, we have the top of the channel, the 50 EMA (in orange,) and then the 200 EMA (in purple.) On the downside, Ripple has the 61.8% retrace, the dotted red trendline , and the bottom of the falling channel . Since there is a significant amount of support and resistance , on both sides of the price action, we could see XRP stagnate, until a breakout occurs.
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