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Ripple (Symbol: XRP) May Be Carving Out A Bottom Above The $0.85 Low

2018-01-17_RippleBottoming

Ripple may be carving out a bottom after a decline from a top at $3.3 to a low at $0.85 corresponding to a division by four of the price. As it hit the rising support (blue line) there is an oversold condition developing on the daily time scale. Ripple price may not go much lower from there although the reversal process may be lengthy and painful. With Ripple bouncing from there a similar bottoming process should be taking place with most other cryptocurrencies as well.  

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