Ripple is now on a 7-day losing streak with an added loss of 18.12% so far. The price managed to break the support level at 0.75398 at out 78.6% Retracement; this gives the pair the possibility of continuing its downtrend and perhaps find a support level at $0.648
Our parabolic SAR indicates in the last four trading sessions that the downtrend will continue. The moving averages are still moving down, and the price trades below them, suggesting that the downtrend could continue.
Bollinger bands are not narrow, but they are not wide enough to expect high volatility. The price currently trades below the lower band, suggesting that the current price is relatively low. The relative strength index is at 32%, very close to entering an oversold status. We could see the markets react and spike the price up once it reaches that 30% RSI.
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