XRP - Technical review and analysis

XRP has been trending down over the past two weeks. After the buyers failed to maintain the price below the $0.40 resistance range, the price returned to the lower support levels due to the overall bearish trend and short-term buyers saving their profits. The support previously considered in the $0.345-0.350 has been accompanied by a partial reaction. This support has already been the place of change in the price trend in a 1-hour time timeframe. If the selling pressure continues the bearish movement and breaks the current support, Ripple's price decline could continue to the $0.30 range. At this level, we expect a positive reaction due to the presence of strong supports, including the midline of the main descending channel and the monthly static support level. But this range can be broken only if there is a new wave of selling pressure in the market. In this case, the bottom target of the channel in the range of $0.1898 to $0.170 will be waiting for Ripple traders.