Ripple Downtrend on Hold as Bulls Engage the $0.24 Support

[MRM]

Ripple continues to fluctuate above $0.24 support for the past three days despite buyers' failure to push the price above the $0.26 resistance.

Ripple has been making a series of lower highs (LH) and lower lows (LL) price patterns. The market has reached the lower highs region and the coin is facing resistance.

The bearish pattern will resume if the coin faces rejection at the recent high. In other words, XRP will further decline to $0.23 and later to $0.21. For example, if this lower high is broken, the bearish pattern will be invalidated. That is the price momentum will be strong enough to break the EMAs and the $0.26 resistance. This will guarantee the resumption of the upside momentum. In the interim, ETH is trading above the $0.24 but the price action is showing bearish signals.
Source: https://coinidol.com/ripple-downtrend-hold/