Ripple has decreased after the failure to make a valid breakout above the near-term major and crucial resistance level. Right now it has reached and retested a dynamic support and now is fighting hard to rebound. Ripple will drop further if the Bitcoin will resume the bearish movement. As you already know, a Bitcoin’s further drop will crash the crypto market.

The next days could be crucial for the Ripple because a valid breakdown below the near-term support levels it will really confirm a further drop.

However, right now it is premature to talk about an important upside movement because the rate it is located much below the crucial resistance level.

You can see that the rate has dropped after the failure to jump above the and has retested the downtrend line. It is trading below the downside 50% Fibonacci line of the descending pitchfork. I’ve told you in the previous weeks that only a valid breakout above the median line (ml) will really confirm a further increase. You can notice that the median line represents a very strong dynamic resistance, it has rejected the rate in the past.

Personally, I would have liked to see a false breakdown below the downtrend line because it would have signaled a potential bullish momentum. It could breakdown below the downtrend line and below the median line (ml) if it will continue to stay above these levels.

A selling opportunity could appear also if the rate will increase again and if it will fail to reach the median line (ml) or if we’ll have another false breakout above this upside obstacle.

A buying opportunity will be confirmed only after a valid breakout above the median line (ml) of the descending pitchfork.