Ripple continues to slide

Ripple continues to slide

Ripple started the New year flat but is still under a lot of pressure because of the delisting processes it has taken on the biggest exchanges but also for the still ongoing SEC lawsuit for the illegal sale of $1.3 Billion worth of tokens according to them.

Technically speaking XRPUSD is retesting the previous broken level and creating higher lows and flat tops whilst the oscillator is creating higher highs. This is called hidden bearish divergence and is a sign of a bearish continuation based on momentum.
We are waiting for the previous higher lows to break to get in a sell trade which will also break the continuation pattern and give the bearish move momentum.

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Author : Orlando Gutierrez

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