XRP/USD dropped again after the failure to make a breakout above a very, very strong dynamic resistance. It remains to see what will really happen in the upcoming days because the crypto market seems undecided.

I’ve told you in the previous days that we need a signal from the Bitcoin if the crypto market will pick up again, but unfortunately, the crypto is narrowing and seems undecided. I’ve also said that the next days are crucial because if the major cryptocurrencies will fail to give birth to an aggressive rally, then most likely we’ll have a significant sell-off.

The major cryptocurrencies seem exhausted already and the sellers could take the lead again and could drive the market into agony.

You can see on the Daily chart that the rate has found a very strong resistance at the median line (ml) of the descending pitchfork and now is pressuring the downside 50% Fibonacci line again. I’ve told you in the previous report that only a valid breakout above the median line (ml) will announce a further increase. A valid breakdown below the 50% Fibonacci line will send the rate towards the downtrend line.

However, this could still be a temporary drop because if the Bitcoin will increase again, then we may see the Ripple at new highs. XRP/USD is trading much below the 0.79132 former high, but as I’ve said, a valid breakout above the median line (ml) will bring more buyers.

Right now we don’t have a selling opportunity, even if the rate is trading in the red. Maybe we’ll have a selling signal if the rate will increase a little and if it will fail to reach the median line (ml) or if it will make another false breakout.