Ripple recovered up to 35% of the losses seen last week in the previous five trading sessions only to lose 7.85%. The price broke a critical support level at 1.00899 and could potentially continue falling as the relative strength index is at 43%.
The Bollinger bands are shrinking, and that would cause lower volatility in the asset. Short and long-term moving averages spread continues expanding; this indicates that a short-term downtrend can be expected. Price trades below these two lines.
Our parabolic SAR indicator points to an uptrend; however, this is a lagging indicator mainly affected by the previous gains. We could see the price fall all the way down to 0.78764, where the pair has found support in the past.
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